Toronto, Canada 2010

 

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The fourth meeting of the G-20 Leaders was marked by intense discussions regarding the need to start reducing debt and deficit or to extend fiscal stimulus measures.

 


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Although recognising G20 achievements in addressing the global economic crisis since the Washington Summit, G20 Leaders agreed that serious challenges remained and the recovery was uneven and fragile. G20 countries agreed in particular to follow through on delivering existing stimulus plans, while working to create the conditions for robust private demand, as well as to put in place country-tailored fiscal sustainability plans (the Toronto fiscal target). The trade and investment standstill was extended to end-2013.


OECD support, together with that of other IOs, was requested by the G20 Leaders in evaluating the consistency of individual country policy commitments within the Mutual Assessment Process (MAP) - as part of the Framework for Growth. IOs, including the OECD, were requested to analyse the benefits of trade liberalisation for employment and growth. OECD work was also recognised in the area of employment, particularly on the preparation of a training strategy in collaboration with the ILO. 


 

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