It is for this reason that, as I have set out, the governance of the international monetary and financial system has been upgraded in a number of important ways to remain relevant and effective in the ongoing quest for global financial stability.
Even amid a crisis it is important to focus on resolving long-term challenges] Regarding the challenges faced by Finland, there are two areas that cannot be ignored: the public finances and the longer term growth outlook. Attention was also drawn to these last week by the International Monetary Fund (IMF) in its annual consultations. Fiscal balance requires active measures affecting both revenues and expenditures.