Flaherty Named Finance Minister of the Year

The Honourable Jim Flaherty has been awarded the Finance Minister of the Year award for 2009 by Euromoney magazine.

Mr. Flaherty spoke about the reasons Canada stood out as a role model upon acceptance of the award, including strong regulation in Canada's financial systems and sound Canadian banks. He also noted that the recently proposed international standards changes regarding capital and leverage by the G20's were modelled after Canada's current practices in these areas.

The Finance Minister also noted that Canadians had persevered through the recent economic crisis and that as a result of the country's sound economy, the job loss has been lower than that experienced by the U.S. Canada will be one of the G7 countries least affected by the downturn in 2009 according to an International Monetary Fund forecast.

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