The International Monetary Fund's chief, Christine Lagarde, has called on Australia to help the G20 work together to complete financial sector and tax reforms, as a resurgence of unilateral approaches to monetary policy threatens to undermine the global body's mandate of international economic co-operation.
The reforms, which were initiated after the global financial crisis, had made good progress but ''the mission is not accomplished'', said Ms Lagarde.
''I would hope that the resilience, the determination and the energy of Australians in general and hopefully of the Australian G20 team can help the world complete the job,'' she said.
Christine Lagarde, the chief of the International Monetary Fund, says the Sydney meeting of the G20 finance ministers and central bank governors had an ''excellent spirit'' of global co-operation.
There were predictions of a rift between developing economies and advanced nations over the winding back of stimulatory economic policies in the United States and Europe. But Ms Lagarde said the ''difficult debates'' were not forthcoming.
She did warn, however, of the likelihood of global financial instability in future ''because monetary policies will not change as they will have to change without a degree of volatility.''
Ms Lagarde described Australia's presidency of the G20 as ''action-oriented'' following the two-day meeting in which members agreed to boost global growth by 2 per cent above the IMF's current projected levels over the next five years.
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