The U.S. government hopes the Toronto summit will reach agreement on the following issues: consolidating the global recovery; overhauling financial policies; strengthening financial regulation and supervision; and establishing a global framework for financial supervision.

The U.S. wants also to discuss the reform of international financial institutions at the summit, American officials say.

The U.S. is pleased that two issues with respect to the Toronto Summit that it was quite focused on have now seen action. One is that China has announced a new round of exchange rate reform, which is constructive to the upcoming G20 summit. The other is that Europe is going to disclose the result of stress tests of the financial sector, which will strengthen market confidence, a senior Treasury Department official said recently.

(Xinhua News Agency June 24, 2010)