Pittsburgh, United States 2009

 

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The 2009 G-20 Pittsburgh Summit was the third meeting of the G-20 Leaders to discuss financial markets and the world economy. The G20 officially became "the premier forum for international economic co-operation".

 


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At the Pittsburgh Summit, G20 Leaders officially designated the Group of 20 as "the premier forum for international economic co-operation".

Noting that the process of recovery and repair remained incomplete, G20 Leaders launched the G20 Framework for Strong, Sustainable and Balanced Growth as a major exercise for policy coordination and convergence. It was a recognition of the major spill over effects of domestic policies in G20 countries in the international economy. 

The OECD contributed to its elaboration, and emphasised the potential of structural reforms. The G20 reiterated commitments to reform the global financial architecture, and the regulatory environment for banks and other financial firms. Moreover, Leaders agreed on new steps to increase access to food, fuel and finance by the world's poorest, and requested international organisations, including the OECD, to provide an analysis of the scope of energy subsidies, which they did on a regular basis up to the Cannes Summit.

The G20 also took a firm stance on illicit outflows and elaborated its anti-corruption agenda with the assistance of the OECD. Leaders called for the adoption and enforcement of norms and standards against transnational bribery such as those provided in the OECD Anti-Bribery Convention.

The OECD Global Forum agreed to expand its membership and to launch an in-depth peer review of national legislation in the realm of international exchange of tax information upon request. This decision was welcomed by G20 Leaders in Pittsburgh, and the Global Forum continues to report regularly to G20 Finance Ministers and Central Bank Governors, as well as to Leaders. Today, almost 100 peer review reports have been completed, and there is a continuing expansion of the Global Forum, which now counts 118 members.  

OECD’s participation in the G20 became more formal as President Obama invited the OECD Secretary-General to the Pittsburgh Summit and to designate a G20 Sherpa to represent the Organisation in the preparatory work. The Organisation also started to be represented in Deputy Ministers of Finance and Ministers of Finance meetings.


 

Angel Gurría, OECD Secretary-General, and Barack Obama, US President

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