G-20 Summit September 24-25, 2009.
Pittsburgh, Pennsylvania will host the G-20 Summit September 24-25, 2009.
President Obama will chair this meeting of leaders from countries around the world that represent 85 percent of the world’s economy. At the Pittsburgh G-20 Summit, leaders will review the progress made since the Washington and London Summits and discuss further actions to assure a sound and sustainable recovery from the global financial and economic crisis.
The members of the G-20 are the finance ministers and central bank governors of 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the U.K. and the U.S., as well as the European Union, represented by the rotating council presidency and the European Central Bank.
In November 2008, as a response to the global economic crisis, the G-20 held its first Leaders meeting, the Washington Summit on Financial Markets and the Global Economy. The heads of state and government were joined by the Secretary-General of the United Nations, the President of the World Bank, the Managing Director of the International Monetary Fund, and the Chairperson of the Financial Stability Forum (reconstituted at the London Summit as the Financial Stability Board).
At the Washington Summit, the Leaders committed to an Action Plan which was reviewed and renewed at the London Summit held in April 2009. The G-20 Finance Ministers were tasked from the Washington summit to take forward work in the following five areas: strengthening transparency and accountability; enhancing sound regulation; promoting integrity in financial markets; reinforcing international cooperation; and reforming the international financial institutions.
The London Summit built on the work in those areas, as Leaders reached agreement on six pledges: to restore confidence, growth, and jobs; to repair the financial system to restore lending; to strengthen financial regulation to rebuild trust; to fund and reform our international financial institutions to overcome this crisis and prevent future ones; to promote global trade and investment and reject protectionism; and to build an inclusive, green, and sustainable recovery.
In London, the Leaders also called for another meeting to be held before the end of 2009. After consultation with his G-20 counterparts, President Obama agreed to host the next meeting in September and chose Pittsburgh, Pennsylvania, as the site. With governments and international organizations now hard at work to reach the objectives set out at the Washington and London Summits, the meeting in Pittsburgh will give Leaders the opportunity to take stock of the progress made and discuss further actions to assure a sound recovery from the global economic and financial crisis.
Washington Action Plan
G-20 Summit on Financial Markets and the World EconomyWashington, DC
November 15, 2008
Action Plan to implement principles for reform
This Action Plan sets forth a comprehensive work plan to implement the five agreed principles for reform.
Our finance ministers will work to ensure that the taskings set forth in this
Action Plan are fully and vigorously implemented.
They are responsible for the development and implementation of these recommendations drawing on the ongoing work of relevant bodies, including the International Monetary Fund (IMF), an expanded Financial Stability Forum (FSF), and standard setting bodies.
http://www.pittsburghsummit.gov/resources/125137.htm
Pittsburgh, Pennsylvania will host the G-20 Summit September 24-25, 2009.
President Obama will chair this meeting of leaders from countries around the world that represent 85 percent of the world’s economy. At the Pittsburgh G-20 Summit, leaders will review the progress made since the Washington and London Summits and discuss further actions to assure a sound and sustainable recovery from the global financial and economic crisis.
The members of the G-20 are the finance ministers and central bank governors of 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the U.K. and the U.S., as well as the European Union, represented by the rotating council presidency and the European Central Bank.
In November 2008, as a response to the global economic crisis, the G-20 held its first Leaders meeting, the Washington Summit on Financial Markets and the Global Economy. The heads of state and government were joined by the Secretary-General of the United Nations, the President of the World Bank, the Managing Director of the International Monetary Fund, and the Chairperson of the Financial Stability Forum (reconstituted at the London Summit as the Financial Stability Board).
At the Washington Summit, the Leaders committed to an Action Plan which was reviewed and renewed at the London Summit held in April 2009. The G-20 Finance Ministers were tasked from the Washington summit to take forward work in the following five areas: strengthening transparency and accountability; enhancing sound regulation; promoting integrity in financial markets; reinforcing international cooperation; and reforming the international financial institutions.
The London Summit built on the work in those areas, as Leaders reached agreement on six pledges: to restore confidence, growth, and jobs; to repair the financial system to restore lending; to strengthen financial regulation to rebuild trust; to fund and reform our international financial institutions to overcome this crisis and prevent future ones; to promote global trade and investment and reject protectionism; and to build an inclusive, green, and sustainable recovery.
In London, the Leaders also called for another meeting to be held before the end of 2009. After consultation with his G-20 counterparts, President Obama agreed to host the next meeting in September and chose Pittsburgh, Pennsylvania, as the site. With governments and international organizations now hard at work to reach the objectives set out at the Washington and London Summits, the meeting in Pittsburgh will give Leaders the opportunity to take stock of the progress made and discuss further actions to assure a sound recovery from the global economic and financial crisis.
Washington Action Plan
G-20 Summit on Financial Markets and the World EconomyWashington, DC
November 15, 2008
Action Plan to implement principles for reform
This Action Plan sets forth a comprehensive work plan to implement the five agreed principles for reform.
Our finance ministers will work to ensure that the taskings set forth in this
Action Plan are fully and vigorously implemented.
They are responsible for the development and implementation of these recommendations drawing on the ongoing work of relevant bodies, including the International Monetary Fund (IMF), an expanded Financial Stability Forum (FSF), and standard setting bodies.
http://www.pittsburghsummit.gov/resources/125137.htm