The two-day G20 summit in Seoul has following the adoption of a joint communique.
President Lee Myung-bak on Friday told a news conference that G20 leaders have agreed to set "indicative guidelines" on assessing current account imbalances by the first half of next year.
He added that G20 leaders will evaluate the implementations of the guidelines during the next Group of 20 summit, which will be held in France in November of next year. He called the setting of a timeline for the moves "remarkable progress".
Lee said that the leaders have also agreed to pursue a global financial safety net, such as a flexible credit
Group of 20 summit, which will be held in France in November of next year. He called the setting of a timeline for the moves "remarkable progress". Lee said that the leaders have also agreed to pursue a global financial safety net, such as a flexible credit line system or the establishment of a precautionary credit line.
In addition, the G20 leaders agreed to push for negotiations next year for an early agreement at the Doha Development Agenda talks.
The leaders also expressed their will to reduce the development gap between nations by giving more support to developing countries. They agreed to adopt an action plan that includes the setting up of a high-ranking panel to assist in infrastructure projects in the developing world.
