We asked the Fund, the World Bank, and the African Development Bank to actively support the implementation of the """"G-8 Action Plan for Good Financial Governance in Africa"""" and to better align their strategies in this area. We remain concerned about the problem of aggressive litigation against HIPC countries. We welcome the steps already taken by the Paris Club to address this problem, urge all sovereign creditors not to on-sell claims on HIPCs, and are examining additional steps that might be taken. We discussed the Implementation Report on the G-8 Action Plan for Developing Local Bond Markets in Emerging Market Economies and Developing Countries and welcomed the work underway. We call on all IMF members to respond to the current situation in Liberia and follow us in financing full debt relief at the IMF.

We remain committed to fighting money laundering, terrorist financing and other illicit financing involving similar risks to financial markets, and we commend the Financial Action Task Force (FATF) for its ongoing work examining the risks of weapons of mass destruction proliferation finance, enhancing its surveillance of global threats, and deepening its dialogue with the private sector. We call upon the IMF and World Bank to continue their close cooperation with the FATF, and we urge the FATF to collaborate intensively with jurisdictions that have failed to recognize international standards. We look forward to meeting with other FATF Ministers next Spring to refresh the mandate of the FATF.

We particularly commend FATF for taking steps to protect the international financial system from the various money laundering and terrorist financing risks related to Iran. In the wake of two unanimous UN Security Council Resolutions addressing Iran's nuclear and ballistic missile programs, and the FATF's actions identifying the risks of illicit finance associated with Iran, financial institutions are advised to take into account these risks.