The world economic crisis and the role of the G20

The second G20 London summit yielded positive results with a view to achieving long-term sustainable growth. Specifically, members committed to contributing to the recovery of global demand by capitalising multilateral financial institutions and implementing domestic fiscal and monetary measures. They also agreed to move forward with the reform of multilateral lending agencies and the regulatory and supervisory restructuring of the international financial system. The measure of an institutional nature is of relevance, since the G20 and the Financial Stability Board will be responsible for the political management of the crisis and the design and implementation of the proposed reforms.