Commencement of G20
The G20 was founded in 1999 after the Asian financial crisis as a forum for Finance Ministers and Central Bank Governors to discuss global economic and financial issues. The G20 was upgraded to the level of Heads of State/Government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the “premier forum for international economic cooperation”. The G20 Summit is held annually, under the leadership of a rotating Presidency. The G20 initially focused largely on broad macroeconomic issues, but it has since expanded its agenda to inter-alia including trade, climate change, sustainable development, health, agriculture, energy, environment, and anti-corruption.
2023 G20 Delhi summit
Main Headlines :
| Host country | India |
|---|---|
| Date | 9–10 September 2023 |
| Motto | 1. One Earth, One Family, One Future 2. (Sanskrit: वसुधैव कुटुम्बकम्, lit. The World Is One Family) |
| Venue(s) | Pragati Maidan, Delhi |
| Cities | New Delhi, India (host) |
| Participants | G20 members |
| Previous | 2022 G20 Bali summit |
| Precedes | 2024 G20 Brazil summit |
| Website | www.g20.org |
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Logo of G20 Delhi summit
Members of the G-20
The members of the G-20 are-
- Argentina
- Australia
- Brazil
- Canada
- China
- France
- Germany
- India
- Indonesia Also know about : FIFA World cup Qatar 2022
- Italy
- Japan
- Mexico
- Russia
- Saudi Arabia
- South Africa
- South Korea
- Turkey
- The U.K.
- The U.S.
- The European Union, represented by the rotating council presidency and the European Central Bank.
Which countries are in the G20?
The members of the G-20 are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the U.K., and the U.S., as well as the European Union, represented by the rotating council presidency and the European Central Bank.
What does G20 stand for?
The Group of Twenty (G20) was formed in 1999 and was originally a meeting of the Minister of Finance and the Governor of the Central Bank to broaden the discussion of policies that are beneficial for resolving the global economic and financial crisis.
What is G7 and G20?
The G7 and G20 in the Global Governance Landscape. The G7 and G20 are informal governance clubs, which hold annual Summits of Heads of State to discuss issues of global importance. The G7 is a more homogenous, intimate group, which has been meeting for decades.
Why are Singapore and Zurich not part of the G20?
Singapore and Zurich are some of the major international financial centers in the world. As Singapore and Switzerland are small countries, ironically, they do not have a seat at the table of G20 nations who could decide the fate of their economies!
Why is Spain a permanent guest of the G20?
Spain is not a member of the G-20, although it has taken part in the Group’s extraordinary summits and some ordinary meetings and is therefore considered a permanent guest.
How is G20 different from UN?
The UN and the G20’s intended aims are different: the UN is “committed to maintaining international peace and security”, whereas the G20 is the so-called “premier forum for international economic development”. The G20 was never intended to be a global organization resembling the UN.
Why is Pakistan not in G20?
The reason is that when G20 was formed in 1999, the countries with their names top 19 economies were grouped to form this organization. In 1999, Pakistan was not in the top 20 economies in the world neither is today. And the important part about this organization is, it is not created to accumulate new member countries.
Did G8 become G20?
The G20 was conceived as a common platform for world leaders. It includes members of what used to be the G8: Canada, France, Germany, Italy, Japan, Russia, the UK, and the US. (Russia was kicked out of the G8 after it invaded Crimea in 2014, giving way to what is now the G7.)