About Group of Twenty (G-20)
The Group of Twenty (G-20) Finance Ministers and Central Bank Governors was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy.
The G-20 is an informal forum that promotes open and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability. By contributing to the strengthening of the international financial architecture and providing opportunities for dialogue on national policies, international co-operation, and international financial institutions, the G-20 helps to support growth and development across the globe.
The members of the G-20 are the finance ministers and central bank governors of 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States of America. The 20th member is the European Union, which is represented by the rotating Council presidency and the European Central Bank.
To ensure global economic fora and institutions work together International Monetary Fund, World Bank, International Monetary and Financial Committee Development Committee of the IMF and World Bank also participate in G-20 meetings on an ex-officio basis.
The G-20 thus brings together important industrial and emerging-market countries from all regions of the world. Together, member countries represent around 90 per cent of global gross national product, 80 per cent of world trade (including EU intra-trade) as well as two-thirds of the world's population. The G-20's economic weight and broad membership gives it a high degree of legitimacy and influence over the management of the global economy and financial system.
G-20 Summit on Financial Markets & the World Economy, Washington Dc, November 14–15, 2008... Read More
Text of the Statement From G-20 Summit,Nov 08... Click Here
Reactions to G-20 Summit, Nov 08... Read More
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