G20 Washington Declaration of the Summit on Financial Markets and the World Economy, 15 November 2008

Sectors : Employment and Training, International trade: market access, subsidies and aid for trade, Financial Institutions, markets, services and microfinance, Investment
Organisation : G20
Date made: 
2008
Level: 
Ministerial
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Commitments in: Private Sector development and financial services for the poor - Financial Institutions, markets, services and microfinance

“1. We, the Leaders of the Group of Twenty, held an initial meeting in Washington on November 15, 2008, amid serious challenges to the world economy and financial markets. We are determined to enhance our cooperation and work together to restore global growth and achieve needed reforms in the world's financial systems.

2. Over the past months our countries have taken urgent and exceptional measures to support the global economy and stabilize financial markets. These efforts must continue. At the same time, we must lay the foundation for reform to help to ensure that a global crisis, such as this one, does not happen again. Our work will be guided by a shared belief that market principles, open trade and investment regimes, and effectively regulated financial markets foster the dynamism, innovation, and entrepreneurship that are essential for economic growth, employment, and poverty reduction.”
 

Scope: 
International