The chief of the International Monetary Fund, Christine Lagarde, has urged Australia to use its stewardship of the G20 to lead the group in unified financial sector and tax reforms, Fairfax Media reports.
According to the newspaper, Ms Lagarde's comments come as a wave of unilateral approaches to monetary policy challenges the authority of the IMF's role in fostering global economic co-operation.
The IMF chief said the reforms enacted following the global financial crisis had made progress, but warned "the mission is not accomplished".
''I would hope that the resilience, the determination and the energy of Australians in general and hopefully of the Australian G20 team can help the world complete the job,'' she said.
The G20's finance ministers and central bankers will meet in Sydney this weekend.