No clash over free market system seen: Canada finmin

Fri Nov 14, 8:25 AM
TORONTO (Reuters) - Canadian Finance Minister Jim Flaherty on Friday said he sees no clash over the free market system at the G20 meeting this weekend.
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(Reuters)

TORONTO (Reuters) - Canadian Finance Minister Jim Flaherty on Friday said he sees no clash over the free market system at the G20 meeting this weekend.

The minister said the groundwork has been laid for a successful G20 leaders meeting in Washington beginning on Friday. He said he backs using existing institutions to oversee the global financial system, as well as supporting the IMF's early warning system to become mandatory.

Canada's financial system has weathered the financial crisis well, and more infrastructure stimulus is possible for the Canadian economy.

Leaders of the G20 industrialized and emerging nations are gathering in Washington to discuss ways of easing a world economic downturn and preventing a repeat of the financial crisis which spawned it.

(Reporting by Ka Yan Ng; Editing by Theodore d'Afflisio)