Other institutions such as the Financial Stability Forum, the Bank for International Settlements and the G-20 have also enhanced their claim on providing leadership in the global economic environment. The G-7 has proved itself to be increasingly irrelevant in the changing economic environment of today.
Lessons to be learnt from the current crisis It is too early to draw lessons from the crisis that is yet to run its full course. However we must continue to debate the causes of the crisis and contribute to solutions to avoid a similar situation globally and at home.