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G20 Washington Summit: Projected Achievements

John Kirton
Director, G20 Research Group
Washington DC, November 14, 2008

In addition to setting a priority agenda, guiding principles and a process of subsequent summits with working groups and schedules, the November 14-15 summit is projected to produce most or all of the following concrete achievements.

A. Financial Stability

  1. College of Supervisors
  2. Early Warning System
  3. Clearing House for Derivatives
  4. Accounting Standards
  5. Bank Capital/Liquidity Standards
  6. Rating Agencies Registered
  7. Executive Pay Guidelines to discourage excess of risk taking at financial institutions

B. Macroeconomic Policy

  1. Fiscal Stimulus Package
  2. Monetary Policy Coordination

C. International Financial Institutions

  1. Financial Stability Forum
    1. dedicated budget
    2. more bodies
    3. expand membership to emerging economies
    4. expand mission
    5. make it seat of College of Supervisors
    6. make it key part of Early Warning System
  2. International Monetary Fund
    1. more money to lend
    2. voice and vote enhanced for emerging economies
    3. make monitoring rich members mandatory
    4. make it part of Early Warning System

D. Trade

  1. Anti-protectionist pledge
  2. Get Doha Development Round done

E. Development

  1. Support for poorer exporters
  2. Maintain official development assistance

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