Washington DC - The G-20 releases their communiqué or "Leader's Declaration" at the close of their annual meetings held this year in Buenos Aires, Argentina.
"From a development perspective we agree with the G-20 that the current system of global trade is flawed. Trade dispute processes too often bypass a country's sovereign laws on labor and the environment. Reforms of the World Trade Organization and trade agreements are needed to protect vulnerable communities.
"We welcome the commitment for basic creditor transparency and for the IMF and World Bank to record public and private loans and debts.
"The G-20's commitment to tackle tax avoidance, tax evasion and corruption are important. We want to see the implementation of global tax and transparency laws as soon as possible. Currently the developing world loses nearly a trillion dollars annually due to tax evasion and corruption.
"The G-20 affirmation of the need to make voting more equal at the International Monetary Fund is critical.
"While the G-20 raises concerns about financial crisis, the G-20 as a whole is failing to push forward an international bankruptcy process. Without this process in place, we are failing to do all we can to prevent the next global financial crisis."
Read the full G-20 Leader's Declaration here: http://www.g20.utoronto.ca/2018/buenos_aires_leaders_declaration.pdf