G-20
The Group of Twenty (G20) Finance Ministers and Central Bank Governors was established in 1999 to bring together systematically important industrialized and developing economies to discuss key issues in the global economy. The G-20 is an informal forum that promotes 0pen and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability. Ultimately, the G-20 helps to support growth and development across the globe. The G-20 is made up of the countries, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, and the United States of America. The United Kingdom was honored to chair the G-20 in 2009. The G-20 faces many challenges that have appeard on the agenda this year. In 2009, it will be important to understand the roots of the international financial crisis and identify the lessons that we can learn to ensure that a crisis of this kind does not happen again. The G-20 will develop proposals that will restore global growth in the medium term, including the unwinding of emergency measures taken in response to the crisis. It is true that America is facing a very tough economic downturn, but it is comforting to know that groups such as the G-20 are working on this crisis.
The G-20 has had many great achievements since 1999. They have progressed a range of issues including agreement about policies for growth, reducing abuse of the financial system, dealing with financial crises, and combating terrorist financing. In 2004, G-20 countries committed to new higher standards of transparency and exchange of information of tax matters. This aims to combat abuses of the financial system and illicit activities including tax evasion. The G-20 also plays a significant role in matters concerned with the reform of the international financial architecture. It is very clear to me that G-20 is working very diligently on this financial crisis, and America will hopefully be clear of its recession soon.
The Group of Twenty (G20) Finance Ministers and Central Bank Governors was established in 1999 to bring together systematically important industrialized and developing economies to discuss key issues in the global economy. The G-20 is an informal forum that promotes 0pen and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability. Ultimately, the G-20 helps to support growth and development across the globe. The G-20 is made up of the countries, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, and the United States of America. The United Kingdom was honored to chair the G-20 in 2009. The G-20 faces many challenges that have appeard on the agenda this year. In 2009, it will be important to understand the roots of the international financial crisis and identify the lessons that we can learn to ensure that a crisis of this kind does not happen again. The G-20 will develop proposals that will restore global growth in the medium term, including the unwinding of emergency measures taken in response to the crisis. It is true that America is facing a very tough economic downturn, but it is comforting to know that groups such as the G-20 are working on this crisis.
The G-20 has had many great achievements since 1999. They have progressed a range of issues including agreement about policies for growth, reducing abuse of the financial system, dealing with financial crises, and combating terrorist financing. In 2004, G-20 countries committed to new higher standards of transparency and exchange of information of tax matters. This aims to combat abuses of the financial system and illicit activities including tax evasion. The G-20 also plays a significant role in matters concerned with the reform of the international financial architecture. It is very clear to me that G-20 is working very diligently on this financial crisis, and America will hopefully be clear of its recession soon.
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