The document outlines 5 recommendations for the G20 leadership to restore confidence and stabilize the global economy in the wake of the financial crisis. It calls for decisive, coordinated action across countries to boost confidence, ease credit markets by supporting small and medium businesses, coordinate fiscal stimulus spending focused on long-term competitiveness, conclude trade talks to open markets, and reform financial regulation to increase transparency and oversight on a global scale.

1. An Open Letter to the Leadership of G20 Member Countries

2. Open Letter to the Leadership of G20 Member Countries
I. Confidence-restoring measures
II. Easing credit markets
III. Fiscal coordination
IV. Open markets
V. Enhanced regulatory framework

3. Recommendation #1: Confidence-Restoring Measures
New forms of collaboration and new
leadership are required to restore
shattered global confidence
Collaborating with new American
leadership presents an exciting
opportunity for renewal in global
confidence
Decisive, coordinated, and global action
is required to restore worldwide
confidence

4. Recommendation #2: Easing Credit Markets
G20 governments must act swiftly to free
up credit markets and avoid further bank
failures
Companies require access to affordable
credit to grow, generate jobs, and thrive
Target support towards the engines of
job creation: small and medium-sized
businesses in particular

5. Recommendation #3: Fiscal Coordination
Coordinate fiscal stimulus at a target
percentage of GDP
Focus stimulus on investments in
spurring long-term competitiveness
rather than short-term consumption
Invest in human capital development,
healthcare, and research & development
Tackle long-term challenges such as
climate change with spending on
alternative energy and conservation

6. Recommendation #4: Open Markets
Speedily conclude Doha round of trade
talks
Offer tariff-free market access to
developing economies
Support international institutions such as
the IMF to maintain balanced trade and
financial flows
Eschew protectionism and embrace
shared fiscal stimulus

7. Recommendation #5: Standards for Financial Regulation
Reform global financial regulatory
frameworks to enhance transparency
and oversight
Bring non-G20 economies into the
decision-making process to build a fair,
effective, and globally accepted regime
Collaboration can operate through
existing institutions such as the Financial
Stability Forum or through the creation of
new ones