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The G20 (or Group of Twenty)

Posted on : 10 Dec 2019

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  • The G20 (or Group of Twenty) is an international forum for the governments and central bank governors from 19 countries and the European Union (EU).
  • Founded in 1999 with the aim to discuss policy pertaining to the promotion of international financial stability.
  • The G20 has expanded its agenda since 2008 and heads of government or heads of state, as well as finance ministers and foreign ministers, have periodically conferred at summits ever since.
  • It seeks to address issues that go beyond the responsibilities of any one organization.
  • The EU is represented by the European Commission and by the European Central Bank.
  • Collectively, the G20 economies account for around 90% of the gross world product (GWP), 80% of world trade, two-thirds of the world population, and approximately half of the world land area.
  • The Group of Twenty (G20) is the premier international forum for global economic cooperation. The members of the G20 are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and the European Union.
  • Japan holds the G20 Presidency in 2019. Japan held the Osaka Summit in 2019, resulting in the G20 Osaka Leaders’ Declaration.

Article Related Questions

  1. Which of the following countries are members of the G20 forum?
    Saudi Arabia
    Select the correct answer using the code given below

  2. 1.1, 3 and 4 only

    2.1, 4 and 5 only

    3.1, 3, 4 and 5 only

    4.1, 2, 3, 4 and 5

    Right Ans : 1, 2, 3, 4 and 5

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