All you need to know about G20 (from exam point of view)
What is G20?
The Group of Twenty (G20) is an informal international forum of the worldβs major economies that focuses on global economic stability, financial governance, climate change, and sustainable development.
- Formed in 1999 after the Asian Financial Crisis
- Upgraded to Leadersβ Summit level in 2008 after the Global Financial Crisis
Represents:
- 85% of global GDP
- 75% of world trade
- Two-thirds of world population
Members of G20
19 Countries + 1 Regional Organization
Countries:
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, TΓΌrkiye, UK, USA
Regional Organization:
- European Union
Objectives of G20
- Promote global economic stability
- Reform international financial institutions
- Address climate change
- Enhance sustainable development
- Strengthen global health systems
- Promote digital economy & innovation
Important summits:
| Year | Host Country | Key Highlight |
|---|---|---|
| 2008 | USA | First Leadersβ Summit |
| 2015 | TΓΌrkiye | Focus on refugees |
| 2020 | Saudi Arabia | COVID-19 response |
| 2023 | India | African Union inclusion |
| 2024 | Brazil | Focus on inequality |
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