PITTSBURGH (AP) — The world’s major countries are pledging to develop goals to fix destabilizing global economic imbalances that helped bring about the worst recession since the Great Depression.
In a draft of their final communique, the Group of 20 nations agreed in Pittsburgh to formulate objectives that each country will pursue in such areas as bringing down trade imbalances or budget deficits.

That process will include peer reviews by the other nations but will not have any penalties for countries failing to reach their goals.