Which one of the following was not identified as a pillar of their reform agenda by the heads of the G-20 nations in the declaration at the Toronto Summit in June 2010 ?
Relaxing regulatory framework
Effective supervision
Resolution and addressing systemic institutions
Transparent international assessment and peer review
Answer is Right!
Answer is Wrong!
This question was previously asked in
UPSC CAPF – 2010
Following the 2008 global financial crisis, G-20 efforts focused on strengthening, not relaxing, the global financial regulatory framework. The Toronto Summit built on previous commitments, emphasizing areas like building stronger financial institutions, improving effective supervision, addressing systemic risk (including ‘too big to fail’ institutions), and enhancing transparency and international cooperation through mechanisms like peer review. Relaxing regulations would have been contrary to the prevailing sentiment and goals of preventing future crises.