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President George W. Bush and the Group of 20 leaders from industrialized and developing countries hammered out a deal after two days of closed-door meetings in Washington.

Among the major issues, the presidents and prime ministers agreed to flag risky investing and regulatory weak spots in hopes of avoiding future financial meltdowns.

Bush says they also pledged to take immediate steps to achieve much-needed reforms in the world's financial systems.

"Our nations agree that we must make the markets, the financial markets much more transparent and accountable," he said. "Transparency is very important so that investors and regulators are able to know the truth."

The heads of state also called for tougher rules on banks and for a series of measures early next year to stabilize global markets.

A follow-up summit is planned for April, after Barack Obama is sworn-in as president.

Meanwhile, in the Democratic Party's weekly radio message, Barack Obama Saturday urged Congress to move swiftly on an economic rescue bill to help jump-start the economy.

In the address, which was also taped and posted on YouTube, the president-elect calls for a stimulus package that extends jobless benefits and provides long-term investments in health care and the nation's infrastructure.

"If this financial crisis has taught us anything, it's that we cannot have a thriving Wall Street while Main Street suffers," said Obama. "In this country, we rise or fall as one nation, as one people."

Obama says if Congress does not pass a plan next week, he'll make it his first priority when he takes office.