G-7 Finance Ministers Call for More Efforts to Combat Terrorism

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Last updated at: (Beijing Time) Sunday, June 16, 2002

G-7 Finance Ministers Call for More Efforts to Combat Terrorism

Finance ministers from the G-7 countries issued a joint statement at Canadian Halifax on Saturday calling for more efforts to combat financing of terrorism.

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Finance ministers from the G-7 countries issued a joint statement at Canadian Halifax on Saturday calling for more efforts to combat financing of terrorism.

The statement said following the tragic events of September 11,2001, an Action Plan was taken to combat financing of terrorism. The Action plan has fostered international cooperation to stop theflow of funds to terrorists, protect the international financial system form abuse and enhance trasparency.

Now over 160 countries and jurisdictions have taken action to freeze terrorist assets.

The statement called for the broadest possible participation inthe fight against financing of terrorism and more assistance for some countries who are facing financial shortage in the campaign.

It also urged the International Monetary Fund (IMF) and World Bank to begin conducting integrated and comprehensive assessments of standards to combat money laundering and financing of terrorism.

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