We, the G8 Finance Ministers, remain focused on addressing the ongoing global economic and financial crisis. We have taken forceful and coordinated action to stabilize the financial sector and provide stimulus to restore economic growth. There are signs of stabilization in our economies, including a recovery of stock markets, a decline in interest rate spreads, improved business and consumer confidence, but the situation remains uncertain and significant risks remain to economic and financial stability.
The Leading Group on Innovative Financing for Development, the main forum for rallying support for such mechanisms, today brings together 59 countries from the northern and southern hemispheres along with international organizations and NGOs.
As we face up to the worst recession for decades, the OECD is working to help governments soften the impact of this crisis for those who will be worst hit and to lay the foundations of a stronger global economy for the generations to come.
The OECD welcomes recent commitments to the internationally agreed tax standard on exchange of information made by Costa Rica, Malaysia, Philippines and Uruguay.
We face the greatest challenge to the world economy in modern times; a crisis which has deepened since we last met, which affects the lives of women, men, and children in every country, and which all countries must join together to resolve. A global crisis requires a global solution.
Issuing their first-ever communique at a G20 finance ministers’ meeting, Brazil, China, Russia and India have called for a bigger voice on international bodies -signalling their growing political resolve to influence global affairs.
We, the G20 Finance Ministers and Central Bank Governors, met today to prepare for the Leaders’ London Summit. We agreed further action to restore global growth and support lending, and reforms to strengthen the global financial system.
The Task Force on Financial Integrity & Economic Development
1319 18th Street, NW Suite 200 Washington, DC 20036
Email: info@financialtaskforce.org
Telephone: +1 (202) 293-0740 | Fax: +1 (202) 293-1720
© 2009-2012 Task Force on Financial Integrity & Economic Development
Some rights reserved. 
