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Noting that the process of recovery and repair remained incomplete, G20 Leaders launched the G20 Framework for Strong, Sustainable and Balanced Growth. As a member of the G20 Framework Working Group (FWG), the OECD has contributed to its development and supports its initiatives.  

 

G20 FRAMEWORK WORKING GROUP


In 2009, at the Pittsburgh Summit, the Leaders agreed to launch a framework that lays out the policies to generate strong, sustainable and balanced global growth. Later that year, the G20 Finance Ministers launched the G20 Framework for Strong, Sustainable and Balanced Growth. They also adopted a detailed timetable and initiated a new consultative Mutual Assessment Process (MAP) to evaluate whether G20 policies will collectively deliver its agreed objectives.

International organisations, including the OECD, were invited to assisted in this assessment process. As a member of the G20 Framework Working Group (FWG), the OECD has supported and will continue to support the work undertaken in the context of the Framework for Strong, Sustainable and Balanced Growth.


G20 MUTUAL ASSESSMENT PROCESS (MAP)

The OECD has been actively involved in the implementation of the G20 Mutual Assessment Process (MAP) – a multilateral process through which G20 countries identify objectives for the global economy, the policies needed to reach them, and the progress toward meeting these shared objectives. The OECD collaborated with the IMF on the MAP exercises, with simulations on the structural policies that could help governments achieve higher growth consistent with an upside scenario. The OECD also evaluated and assessed the underlying structural sources of persistent global imbalances as part of the international organisations’ inputs into the MAP.

The OECD reviewed how countries have progressed in the implementation of their structural policy commitments in Toronto, Seoul, Cannes and Los Cabos as part of the MAP’s accountability exercise. The OECD was tasked to assess the implementation of the Cannes Action Plan in the realm of structural reforms(PDF).  This report was fed into the first accountability exercise undertaken under the new G20 accountability assessment framework, and a second report was presented to Finance Ministers at the Saint Petersburg Summit in 2013.

At the Los Cabos Summit, Leaders adopted the Los Cabos Action Plan on Growth and Jobs updating G20 policy actions and commitments and encapsulating an enhanced accountability assessment framework. In Los Cabos the OECD was requested by G20 Leaders to define indicators for measuring compliance with the commitments set out in the realm of structural reforms under this Action Plan. The OECD is providing support to countries’ efforts set out in the plan by helping them to prioritise their commitments and to make them more specific in order to be able to assess and quantify their impact.


BOOSTING JOBS AND LIVING STANDARDS IN G20 COUNTRIES

The Cannes Declaration mandated international organisations to report on the global employment outlook and on how the G20 could contribute to job creation.  The OECD, along with the ILO, the IMF and the World Bank, prepared the report Boosting Jobs and Living Standards in G20 countries (pdf).

The report addresses both quantitative and qualitative aspects of employment with an overall study of the current employment outlook, takes stock of the implementation of commitments related to employment in the Cannes Action Plan and envisages possible extensions to the G20 commitments made in Cannes.


 

GOING FOR GROWTH

Building on its annual Going for Growth report, the OECD has been providing structural policy and performance indicators that can help countries to identify the obstacles to sustained growth and that underpin analysis of the policy actions that could improve economic performance.

The OECD also contributes to the policy debate in G20 countries by sharing expertise and experience in several structural reform areas, as well as by monitoring progress in the implementation of structural policies.

In addition, the OECD measured short-term impacts of pro-growth reform and implementation lags through improved knowledge of the dynamics of structural reforms; minimising adjustment costs and informing priority setting by countries.




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