World leaders gathered in Rome on Sunday to effect discussions related to the Covid-19 pandemic, economic recovery, climate change and others issues. The consensus of the G20 meeting is to continue to provide support to world economies, ensuring long-term fiscal sustainability and financial stability as well as preventing negative spill over from economic downturns.
"We remain vigilant to the global challenges that are impacting on our economies, such as disruptions in supply chains. We will work together to monitor and address these issues as our economies recover and to support the stability of the global economy," said the G20 Rome Declaration.
The declaration hailed increasing vaccine rollouts as key to the steadily improving global economy which had seen a rise in 2021 and said global leaders would continue working together to monitor any challenges that arise as well as to safeguard against possible setbacks due to slow vaccination rollouts in some countries as well as outbreaks of different variants of the virus.
"We look forward to the forthcoming review of the IMF's institutional view on the liberalisation and management of capital flows, informed, among others, by the Integrated Policy Framework. We remain committed to revisiting the adequacy of IMF quotas and will continue the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, by 15 December 2023," the declaration said.