Public sector financial institutions proved their worth during economic
crisis
"Just a couple of years ago, it was fashionable in some financial and economic circles to question why many of these institutions should continue to exist. Once a financial crisis hits, however, it is too late for governments to create institutions to provide fall-back credit support - they must already exist," said
On the global stage, public sector financial institutions - such as the World Bank and International Monetary Fund - stepped forward as lenders and policy advisors, helping to build a floor under the collapsing global credit system.
In
The federal government invested an additional
This publication, Lessons From the Recession and Financial Crisis: Lesson 2 - Public Sector Financial Institutions Prove Their Worth, is part of the Conference Board's ongoing series. Previously released publications included Overview - What Caused the 2008-09 Financial Crisis and Recession? (http://www.conferenceboard.ca/documents_ea.aspx?did=3381) and Lesson 1 - The Financial Sector is Unique and Needs New Standards (http://www.conferenceboard.ca/documents.aspx?DID=3387). The Conference Board's Forecasting and Analysis (http://www.conferenceboard.ca/topics/economics/default.aspx) team has examined the developments of the past year and has drawn key lessons for the world and for
For further information: Brent Dowdall, Media Relations, Tel.: (613) 526-3090 ext. 448, E-mail: [email protected]
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