G20 leaders call for urgent action to address major challenges, crises

G20 leaders called for urgent action to address major geopolitical, socioeconomic, and climate and environmental challenges and crises, according to the G20 Rio de Janeiro Leaders' Declaration released on Tuesday.

The leaders reaffirmed the role of the G20 which is well suited to address those challenges through much-needed international cooperation and political drive and also their strong commitment to the Sustainable Development Goals.

They observed good prospects of a soft landing of the global economy and pledged to continue to foster strong, sustainable, balanced and inclusive growth, address the cost of living pressures, safeguard fiscal sustainability and mitigate negative spillovers.