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The Group of Twenty (G20) Summit on Financial Markets and the World Economy was held Saturday local time in Washington, the first of its kind for the Group of 20 since it was founded in 1999. Heads of state of the Group of 20, as well as UN Secretary General Ban Ki-moon, and leaders of the international organizations such as the World Bank and International Monetary Fund attended the meeting. Being held amid serious challenges to the world economy and financial markets, the summit issued a declaration, in which leaders say they are determined to enhance cooperation and work together to restore global growth and achieve needed reforms in the world's financial system. As widely expected before the summit, the leaders vow to implement reforms in order to strengthen financial markets and regulatory regimes so as to avoid future crisis.

The Group of Twenty (G20) Summit on Financial Markets and the World Economy was held Saturday local time in Washington, the first of its kind for the Group of 20 since it was founded in 1999. Heads of state of the Group of 20, as well as UN Secretary General Ban Ki-moon, and leaders of the international organizations such as the World Bank and International Monetary Fund attended the meeting. Being held amid serious challenges to the world economy and financial markets, the summit issued a declaration, in which leaders say they are determined to enhance cooperation and work together to restore global growth and achieve needed reforms in the world's financial system. As widely expected before the summit, the leaders vow to implement reforms in order to strengthen financial markets and regulatory regimes so as to avoid future crisis.

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