The IMF ( International Monitory Fund) and the World Bank, and the chairs of the
International Monetary and Financial Committee and Development Committee of the IMF and World Bank, also participate in G-20 meetings on an ex-officio basis.They agreed that the need for budgetary and monetary policies which supported growth, one official who spoke on condition of anonymity, told reporters, adding that the last point was "implicitly an appeal for a cut in interest rates".
They agreed that further actions are necessary to stabilize the financial system.
The IMF or other agencies can now review US Financial systems as much as it can review other nations.
They took a decision to implement six point plans to solve the financial crisis
G-20 sets March deadline for regulations
The first thing is that they all agree that further action needed to solve the present condition.
Each countries central bank monetary policy has an important role to play to stabilize their financial position.
The fiscal measures – including tax breaks, cuts and various incentives - will boost domestic demand in the short term "while maintaining a policy framework conducive to fiscal sustainability."
The plan also called for emerging and developing countries to gain access to funding through liquidity facilities and other programs and stressed that the International Monetary Fund could play an important role.
The leaders also urged the World Bank and other international lending institutions "to use their full capacity" to support development in poor countries.
Lastly, the leaders agreed to ensure that the IMF and the World Bank had "sufficient resources" to help overcome the current crisis.
According to the final communiqué, the next summit is due to be held by April 30, 2009 about 100 days after President-elect Barak Obama takes over.
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