2009 G20 London summit London Summit and to co-ordinate their actions. The meeting was organised at the initiative of German Chancellor Angela Merkel. The leaders agreed that markets, financial institutions and the wide range of financial assets they create, and hedge funds should be subject to appropriate control. In addition, they called for effective sanctions against tax havens. They also agreed to impose sanctions against countries that intend to undermine their work. Finally, they advocated the doubling of funds available to the IMF. Finance ministers and central bankers of the G20 met in Horsham on 14 March 2009 to prepare for the London Summit.
2010 G20 Toronto summit collecting the contributions would be left to each government. Participants also decided that the institutions would be required to keep a higher amount of financial capital in case of future financial shocks. Climate change and food security were also discussed; the leaders reiterated their commitment to a "greener growth". "The G20 Toronto Summit Declaration", which was released shortly after the summit concluded, stated that "serious challenges remain." According to the document, the challenges include high unemployment rates in various economies and the concurrent existence of the impact of the financial crisis. The International Monetary Fund, in its post-summit document, indicated