G 20

G20: 

The Group of Twenty is an international forum for the governments and central bank governors from 20 major economies.

Members :- 

The members include 19 individual countries and the European Union (EU).

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, the United Kingdom, the United States and the European Union.

The EU is represented by the European Commission and by the European Central Bank.

Significance of G20:- 

Collectively, the G-20 economies account for around 85% of the gross world product (GWP), 80% of world trade, and two-thirds of the world population.

The G20 started in 1999 as a meeting of Finance Ministers and Central Bank Governors in the aftermath of the Asian financial crisis.

G20 leaders meet annually.

In addition, Finance Ministers and Central Bank Governors meet regularly during the year to discuss ways to strengthen the global economy, reform international financial institutions, improve financial regulation and implement the key economic reforms that are needed in each member economy.

Underpinning these meetings is a year-long program of meetings among senior officials and of working groups coordinating policy on specific issues.

The G20 is supported by international organisations, including the Financial Stability Board, the International Labour Organisation, the International Monetary Fund, the Organisation for Economic Cooperation and Development, the United Nations, the World Bank and the World Trade Organization.