Other International regulatory organizations include the International Financial Reporting Standards (IFRS) body which issues standards adopted by the International Accounting Standards Board (IASB). The Financial Stability Forum (FSF) is of much more recent vintage. It was convened in 1999 to promote international financial stability. Its first major initiatives related to offshore centres.
The Bank of Canada now projects that U.S. economic growth will average 2 to 2 1/2 per cent in the last half of this year and the first half of 2007. Activity should then recover to above 3 per cent in the second half of next year and throughout 2008.