Finally, I would say that G20 discussions and commitments, once they are reflected in hard-toearn consensus on communiqués, do work as a focal point for peer pressure and for international reputation. Any country can easily fall short of, or even renege on, their 4/5  BIS central bankers' speeches  commitments, which in the end do not have the force of law.
In addition, measures to strengthen export sectors, while maintaining open markets, would also help to reduce current account deficits. The G20 recently made an attempt to address the problem of imbalances at the political level: in September 2009 the “Framework for strong, sustainable and balanced growth” was launched. This framework includes a pledge to “promote more balanced current accounts”.