G-20: There is a risk that the failure to implement consolidation where necessary would undermine confidence and hamper growth

In Toronto the G-20 held its first Summit in its new capacity as the premier forum for our international economic cooperation on June 26-27, 2010. The G-20 has agreed on the next steps we should take to ensure a full return to growth with quality jobs, to reform and strengthen financial systems, and to create strong, sustainable and balanced global growth.

There is a risk that synchronized fiscal adjustment across several major economies could adversely impact the recovery. There is also a risk that the failure to implement consolidation where necessary would undermine confidence and hamper growth. Reflecting this balance, advanced economies have committed to fiscal plans that will at least halve deficits by 2013 and stabilize or reduce government debt-to-GDP ratios by 2016.

Toronto, June 27 th, 2010

WWW.TREASURYANDFINANCE.INFO

Source: G-20. WWW.G20.ORG


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