World Leaders Agree at G-20: Global Response is a Very Serious Non-Binding Declaration of Principles

G-20 includes announcements of agreement in several areas, but leaders “deferred many of the trickiest decisions or forwarded them to international institutions unaccustomed to the responsibility.” The International Monetary Fund was the biggest recipient, with a quadrupled financial commitment worth over $1 trillion. But expecting the IMF to fix the global economy is a stretch.