G20

The Group of Twenty (G20) is an international forum that brings together the world’s major economies to discuss global economic issues and promote international cooperation. It was established in 1999 in response to the financial crises of the late 1990s, with the goal of enhancing global economic stability and fostering sustainable economic growth.

The G20 consists of 19 countries and the European Union, representing both developed and emerging economies. The member countries include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. Together, these countries account for around 80% of global GDP and two-thirds of the world’s population.

The G20 operates as a forum for dialogue and cooperation among its members, who meet at annual summits to discuss pressing economic issues and formulate coordinated policy responses. The summits are attended by heads of state or government, along with finance ministers and central bank governors. The host country holds the presidency and sets the agenda for the year.

In addition to the annual summit, the G20 has various working groups and task forces that focus on specific areas of interest, such as finance, trade, employment, energy, and climate change. These groups meet throughout the year to develop policy recommendations and initiatives that are then presented to the leaders at the summit.

The G20’s agenda covers a wide range of economic and financial topics, including macroeconomic policies, trade and investment, financial regulation, development cooperation, and global governance. The forum provides a platform for discussion, cooperation, and coordination among its members, with the aim of addressing global challenges and promoting sustainable and inclusive growth.

One of the key features of the G20 is its inclusivity. While the member countries represent the largest economies in the world, the G20 also engages with other countries and international organizations to ensure a broad representation of perspectives. The G20 regularly invites guest countries, regional organizations, and international institutions to participate in its meetings and contribute to the discussions.

Overall, the G20 plays a crucial role in shaping global economic governance and addressing pressing economic and financial issues. It provides a platform for major economies to come together, exchange views, and coordinate policies to foster stability, growth, and development in the global economy.