G20: “In Washington, London and Pittsburgh, we took decisive steps to stimulate the world economy, restore growth, recapitalise financial institutions, launch an ambitious program to reform the financial sector, maintain open markets and clamp-down on tax havens. Significantly, we established the Financial Stability Board (FSB), tripled the resources available to the IMF, and put in place our Framework for Strong, Sustainable, and Balanced Growth. This coordinated response helped to alleviate severe market distress and avert a global depression. In Toronto, Seoul, Cannes and Los Cabos the G20 demonstrated its leadership in returning to fiscal sustainability and promoting growth and job creation, structural, financial and tax reforms, anti-corruption, development, energy, agriculture, and fostering inclusive green growth. We also started working in partnership with developing countries outside the G20 to narrow the development gap and reduce poverty. In Saint Petersburg we have emphasised restoring strong and inclusive growth and employment while ensuring fiscal sustainability, promoted financing for investment, including in infrastructure; made further progress on financial reforms; and we have made strong commitments on trade, development, addressing tax evasion, and on changing the rules that allow international tax avoidance related to the erosion of tax bases and shifting of profits.”
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