After meeting at the G-20 summit in London, the most powerful economies agreed to a sweeping recovery plan that enhanced the role of the IMF and committed governments to more vigorous domestic recovery programs. While these agreements are not commonly taken too seriously, they are important to consider as statements of international financial values.

The G20 commits to working toward a new regulatory system for the IMF and other international financial institutions.  Specifically, the member states agreed to:

-design and fund a Financial Stability board to coordinate regulatory practices internationally and provide warning for future systemic financial problems; relevant regulation includes hedge funds and corporate compensation schemes.  The FSB should work to combat tax havens and monitor credit rating agencies to ensure consistency.

-reaffirms the international commitment to eliminate trade barriers through the WTO .

-continue to work toward implementing the trade principles discussed in the Doha Round.

-improve access to flexible credit lines for poor countries

-increase poor countries' access to capital and insure food security in crisis areas

-throughout the process, commit to ensuring that the effects of climate change are minimized.

The member states of the G20 respectively commit to increase their collective funding for the IMF by over $1 trillion.  While the details of the IMF's expenditures are subject to change, it is agreed that significant portions will be spent on trade financing, credit availability and new allocations of Special Drawing Rights (SDRs).