The International Monetary Fund (IMF) has welcome the statements made by the leaders of the G7 countries and European Central Bank on taking steps to ensure market stability.

“I welcome the statements from the European Central Bank, from the leaders of Germany and France as well as from the G7, and their renewed commitment to take all necessary action in a coordinated way to ensure stability and liquidity in the financial markets,” IMF Managing Director, Christine Lagarde said.

This cooperation will contribute to maintaining confidence and spurring global economic growth, she said in a statement.

“The swift implementation of the commitments by the Euro Area Governments on July 21, 2011, and the recent agreement to reduce the United States’ fiscal deficit in the medium term, without undermining growth, are further critical elements for financial stability,” Ms. Lagarde said.

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