The G20, or Group of Twenty, is an international forum for the governments and central bank governors from 20 major economies. The G20 was founded in 1999 and its members include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, and the European Union. The G20 is focused on promoting international financial stability and encouraging economic growth and development. The organization holds annual summits, which are attended by the heads of state or government of its member countries, as well as by representatives of international organizations.
history of G-20
The G20 was established in 1999
as a forum for finance ministers and central bank governors to discuss
international economic and financial issues. The group was created in response
to the financial crises of the 1990s and the growing interdependence of the
global economy. The first G20 leaders summit was held in 2008, in Washington
D.C, in response to the global financial crisis of 2008. The G20 leaders
pledged to work together to stabilize the global economy and prevent future
financial crises.
Since then, the G20 has been meeting annually to
discuss and coordinate policies on a wide range of economic and financial
issues, including promoting economic growth, addressing imbalances in the
global economy, and addressing financial sector regulation. The G20 has also
focused on addressing issues related to poverty, inequality, and sustainable
development.
The G20 plays a crucial role in promoting
international financial stability, fostering cooperation among its members, and
addressing global economic challenges. It also provides a platform for the
leaders of the world's largest economies to discuss and coordinate policies on
a wide range of economic and financial issues, including promoting economic
growth, addressing imbalances in the global economy, and addressing financial
sector regulation.