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G20 Urges US to Hastily Ratify IMF Reforms - Communique

© AP Photo / Pablo Martinez MonsivaisInternational Monetary Fund
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G20 urges United States to hastily ratify International Monetary Fund (IMF) reforms.

International Monetary Fund (IMF) Managing Director Christine Lagarde participates in a working session on the global economy with fellow world leaders at the start of the G20 summit at the Regnum Carya Resort in Antalya, Turkey, November 15, 2015 - Sputnik International
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ANTALYA (Sputnik) The G20 group of major economies urged the United States on Monday to hastily ratify International Monetary Fund (IMF) reforms.

"We remain deeply disappointed with the continued delay in implementing the IMF quota and governance reforms agreed in 2010. The 2010 reforms remain our highest priority for the IMF and we urge the United States to ratify these reforms as soon as possible," the group's communique reads.

The leaders of G20 states instructed their trade minister to hold regular meetings in order to boost international trade and investment, according to the communique issued on Monday.

“Global trade and investment continue to be important engines of economic growth and development, generating employment and contributing to welfare and inclusive growth,” the communique reads.

The G20 leaders pointed out that global trade growth remained below pre-crisis levels and reaffirmed their strong commitment “to better coordinate our efforts to reinforce trade and investment.”

“We ask our Trade Ministers to meet on a regular basis and we agree on a supporting working group,” the communique reads.

The leaders of G20 states will continue to foster transparency and competition on the international gas market, according to the communique issued on Monday.

"We will continue to promote transparent, competitive and well-functioning energy markets, including gas markets," the communique reads.

The G20 leaders pointed out the importance of energy sources diversification and continued investments for increased energy security.

The leaders of G20 states agreed to further strengthen international anti-corruption efforts, according to their joint communique issued on Monday.

"We will further work to strengthen international cooperation, including where appropriate and consistent with domestic legal systems, on civil and administrative procedures, as an important tool to effectively combat bribery and to support asset recovery and the denial of safe haven to corrupt officials and those who corrupt them," the communique said.

The G20 leaders added that they remained committed to building a global culture of intolerance towards corruption through implementing the 2015-2016 G20 Anti-Corruption Action Plan.

The G20 Summit is taking place in the Turkish city of Antalya on November 15-16. Countering terrorism, global economic issues, and the refugee crisis are on the summit agenda.

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