The G-20 Summit in Toronto: Global Leadership to Combat Corruption

June 27, 2010

The White House

Office of the Press Secretary

The G-20 Summit in Toronto: Global Leadership to Combat Corruption

President Obama believes that the world’s major economies have a special responsibility to prevent and tackle corruption and to establish legal and policy frameworks that ensure the integrity of markets and promote a clean business environment.

In recent decades, the United States has been a global leader in building an international architecture to combat corruption:

Today, the G-20 signaled its commitment to global leadership in the effort to combat corruption.  The G-20 reaffirmed its commitment to the full implementation of UNCAC and announced the establishment of a high-level experts group to develop a comprehensive set of concrete commitments for consideration by Leaders in Korea.

Building on our prior commitments in Pittsburgh, the group will dedicate particular attention to a role for the G-20 in strengthening international efforts to combat corruption with a focus on key areas that include:

The United States sees corruption as a core part of the mandate of the G-20 as the premier forum for international economic cooperation, and its efforts to follow through on commitments in Pittsburgh to strengthen the integrity of the international financial system.  Preventing and tackling corruption must be a key part of our efforts to shape an international economic architecture that is rules-based and transparent; that promotes trade and fair competition among businesses; and that fosters prosperity and development, by recognizing the fact that corruption, illicit outflows of capital, and their absorption in the global financial system represent impediments to economic growth.