The G20 met in Pittsburgh, USA on 24-25 September 2009 in the context of continued economic turmoil. This meeting involved reviewing the progress made by national governments on implementing fiscal and monetary stimuli agreed at the London Summit. The leaders agreed that the process of recovery was incomplete, as evidenced by high unemployment and continued restrained private demand.

In this context, through the Leaders' Statement, G20 leaders agreed to a wide range of reforms and programs, including the following:

• Launch a framework that sets out the policies and the ways in which G20 countries act together to generate strong, sustainable and balanced global growth;
• Ensure global regulatory systems for banks  and other financial firms reins in the excesses that led to the global financial crisis;
• Reform the global regulatory architecture to meet the needs of the 21st century, particularly by shifting to a quota system in the International Monetary Fund in order to more fully represent emerging and developing countries;
• Take new steps to increase access to food, fuel and finance among the world’s poorest while clamping down on illicit outflows;
• Phase out and rationalise over the medium term inefficient fossil fuel subsidies while providing targeted support for the poorest; and
• Maintain trade openness and move toward greener, more sustainable growth, through steps such as completing the Doha Trade round, and reaching agreement in Copenhagen through the United Nations Framework Convention on Climate Change negotiations.