G20 Leaders Summit on Financial Markets and the World Economy

Found on website of "G20 Information Centre": the "Documents and Declarations G20 Leaders Summit on Financial Markets and the World Economy November 14-15, 2008, Washington DC" and other related documents.

The "Declaration of the Summit on Financial Markets and the World Economy" is available inside.

It is a great read, particularly the "Common Principles for Reform of Financial Markets" and its more detailed "action plans" part.

Its timeline: Immediate Actions by March 31, 2009; Medium-term actions.
Its "common principles for reform":
1. Strengthening Transparency and Accountability
2. Enhancing Sound Regulation
3. Promoting Integrity in Financial Markets
4. Reinforcing International Cooperation
5. Reforming International Financial Institutions

There will be lots of new regulations and standardizations, in global scale, provided a consensus can be reached.

Some of the international bodies/"guidelines" etc. that are mentioned in the documents may worth a search or understanding to get a glimpse on the future "world financial order" will be (however, the list below is not exhaustive):

  • IMF, World Bank and other multilateral development banks (MDBs)
  • Financial Stability Forum (FSF)
  • World Trade Organization (WTO)
  • WTO's Doha Development Agenda
  • Millennium Development Goals
  • development principles agreed at the 2002 United Nations Conference on Financing for Development
  • Financial Sector Assessment Program (FSAP)
  • Credit Ratings Agencies
  • Basel Committee
  • Financial Action Task Force
  • World Bank - UN Stolen Asset Recovery (StAR) Initiative
  • Organization for Economic Cooperation and Development (OECD)
  • Bretton Woods Institutions

    Other more general information on G20:
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