In June 2020, the World Bank released its latest report on the global economic outlook, which presented a shocking conclusion: the crisis generated by COVID-19 is the worst crisis in eight decades, despite all the support policies implemented. Accordingly, IFAC calls on G20 decision-makers to prioritize regulatory cooperation and step up efforts to harmonize systems so that all businesses can thrive, as well as to improve mechanisms for continuous and systematic cross-border dialogue between national regulators, in order to increase the level of consistency of regulations and standards at the international level.

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