Let me emphasize that the Fund is not in a bad financial position. It was able, for example, to provide a substantial loan to Mexico when it was needed. But it is absolutely essential that the IMF have the assurances of access to significantly more resources if necessary. Again, Canada will be seeking agreement from our G-7 partners to reach specific conclusions on this subject at Halifax. We must also ensure an adequate regulatory and supervisory framework for financial institutions and markets.
Supervision is centered at the national level.
A lot must be done there. Because very often the speculation that can undermine national econorffies starts at home. But there must also be a growing commitment to international cooperation. I will be raising this issue in Halifax. We need to know if there is adequate international cooperation in this area.