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Ten Actions For G20 Countries to Advance the Global Economy
G20 countries play a crucial role in fostering institutions and governance models that can anticipate, respond to, and mitigate future crises.
Ahead of the 2018 G20 Summit in Buenos Aires, Argentina, IFAC issues ten actionable recommendations for G20 countries to advance the global economy.
In 2018, low levels of public trust are threatening confidence in government and business. To rebuild public trust and secure economic progress, G20 countries must pursue smarter regulation, heightened transparency and inclusive growth.
These three priorities encapsulate the key themes of the 2018 Call to Action.
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Develop Smarter Regulation
To achieve smarter regulation, G20 countries must:
- Develop and adopt consistent, comprehensive, and high-quality regulation
- Create a coherent, transparent global regulatory environment that limits divergence; and
- Implement internationally-accepted standards to enhance confidence and stability in the global financial system.
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Increase Transparency
To increase transparency in the global economy, G20 countries must:
- Strengthen governance in the public and private sectors
- Embrace integrated reporting
- Enhance public sector financial management; and
- Collaborate to tackle corruption.
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Enable Inclusive Growth
To enable inclusive growth, G20 countries must:
- Foster an environment that supports small- and medium-sized entity growth
- Create a secure and digital-ready investment environment; and
- Collaborate for a coherent international tax system.