The Group of Twenty (G20) industrialized economies Monday called for implementation of its recommendations in a timely manner to reduce global economic risks.
G20 finance ministers and central bank governors gathered in Mexico City, Mexico, on Sunday and Monday to debate a wide range of issues, but with a looming fiscal crunch in the United States, which may trigger a recession, and the ongoing European debt crisis, at the heart of their agenda.
"Complete and timely implementation of all of our policy commitments is critical in order to continue to reduce risks and secure a durable and strong recovery," said the body in a communique issued here Monday.
"Current reform momentum in the EU on structural, fiscal and financial fields needs to be continued with the view to improving competitiveness and promoting financial stability, "communique said.
G20 groups Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, the Republic of Korea, Turkey, the United States, and the European Union (EU).