By late-afternoon today, as the formal meetings were wrapping up, the G20 Leaders’ Statement was circulated to the media and online. There were reports that leaders were agreeing to the final language up until the final minutes. Largely, there are not many surprises in the substance of the declaration, while much is left to interpretation on who will deliver and enforce the key points of agreement.
These documents make clear the need to empower or reform the international financial institutions, particularly the International Monetary Fund and the World Bank, to allow for continued monitoring of G20 progress on reversing the world economic crisis. There is also mention of another G20 summit (host country TBA) by the end of 2009 to track national and international action on the statement’s main points.
The declaration came in three parts, the statement and two annexs:
Leaders’ Statement (2 April 2009)
Annex: Declaration on Strengthening the Finanical System (2 April 2009)
Annex: Declaration on Delivering Resources through the International Financial Institutions (2 April 2009)
Disclaimer: This blog is solely intended to spur discussion, while the opinions expressed are those of the author(s) and do not necessarily reflect the views of CIGI, Chatham House or their respective Boards of Directors.