some excerpts from Finance Minister's speech on post crisis.
The Brettonwood system emerged after the Great Depression. The current crisis has heralded the rise of G20 as the premier forum for international cooperation.
In a post crisis scenario, G20 Governments will have to work together to support well functioning international economy. They will need to coordinate policy actions in a manner that can ensure strong, sustainable and balanced growth.
The immediate spheres of such coordination are
(a) macroeconomic policies and exit strategies
(b) pace of regulatory reforms to ensure financial stability, without affecting prospects of growth
(c) reform in the governance of International Financial Institutions to reflect current economic realities
(d) keeping international trade open and avoiding protectionism and
(e) coordination on climate change and energy issues.
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