- Anders Borg, Swedish Finance Minister (2006-2014), will lead a new multistakeholder initiative of the World Economic Forum
- The aim is to facilitate cooperation towards a new framework for the future global financial system
- For more information about the World Economic Forum, see www.weforum.org
Geneva, Switzerland, 14 November 2014 – The World Economic Forum announced today a new multistakeholder initiative on the future of the global financial system under the leadership of Anders Borg, most recently Sweden’s Finance Minister (2006-2014). The aim is to facilitate cooperation towards a new framework for the future global financial system.
“Anders is one of the world’s most respected financial leaders, we are honoured to have him join the Forum”, said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. “Under his leadership, the Forum will provide a platform for international institutions, regulators, finance ministers, central banks, and the larger financial community to work together on a sustained and integrated basis to ensure the long-term viability and development of the global financial system.”
Recovery of the global economy is slow, due to weak growth rates. Addressing this challenge requires a high level of global cooperation involving a diverse range of stakeholders. The World Economic Forum will lead this process by providing an impartial arena for all stakeholders to interact.
“Rebuilding an efficient, stable and equitable financial system that supports long-term growth without jeopardizing economic recovery in the short run is a key global challenge. It is necessary to continue to strengthen regulatory structures and supervision while reducing the scope for regulatory arbitrage or disruptive innovations that reduce stability. The World Economic Forum is known for its multistakeholder approach which is necessary to address such global challenges.” said Anders Borg.
The World Economic Forum will provide a broad range of platforms for dialogue on this issue at its meetings and throughout the year via its virtual collaboration platform TopLink.