G-20

G-20

Definition of G-20

Within the context of international organizations, the following is a brief meaning of g-20: G20 is the premier forum (It is not an organisation) for global economic and financial cooperation. Being a forum it does not have any permanent secretariat or management and administrative structure

It was established in 1999 as a meeting of Finance Ministers and Central Bank Governors on member countries in the aftermath of the 1997 Asian financial crisis. The forum brings together 20 nations that represent world's major advanced and emerging economies, representing around 85 per cent of global GDP

Presidency of the G20

Every year one nation holds the chair of G20 known as Presidency which rotates annually among its member groups

The presidency establishes a temporary secretariat for the duration till it holds the Chair

Members

Brazil, China, Russia, India, South Africa, Australia, Argentina, Canada, France, Indonesia, Germany, Italy, Mexico, Japan, Saudi Arabia, Turkey, South Korea, United Kingdom (UK), United States (US) and European Union (EU).

Resources

See Also

  • International Organization

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