2010 Toronto

The G20 Leaders’ Summit was held from 26-27th June 2010 in Toronto, Canada.

The summit focused on the need for fiscal consolidation, with agreement that advanced G20 deficit economies would at least halve fiscal deficits by 2013 and stabilise or reduce sovereign debt ratios by 2016, complemented by ongoing structural reform across all G20 members to rebalance and strengthen global growth.

Leaders also:

• agreed to conclude work in the Basel Committee on Banking Supervision on a new global regime for bank capital and liquidity by the Seoul G20 Summit
• extended their pledge to refrain from imposing new protectionist barriers until the end of 2013 and reiterated support for a successful conclusion to the Doha Round
• welcomed the fulfillment of their commitment to provide a US$350 billion increase in capital to multilateral development banks and associated institutional reforms.

A Summit Declaration was released at the conclusion of the summit.