What is the G20？？？

The Group of Twenty (G20) is the premier forum for international

cooperation on the most important issues of the global economic and

financial agenda.

The objectives of the G20 refer to:

1. Policy coordination between its members in order to achieve global

economic stability, sustainable growth;

2. Promoting financial regulations that reduce risks and prevent future

financial crises;

3. Modernizing international financial architecture.

The G20 brings together finance ministers and central bank governors

from 19 countries: Argentina, Australia, Brazil, Canada, China, France,

Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico,

Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the

United States of America plus the European Union, which is represented

by the President of the European Council and by Head of the European

Central Bank.

The G20 was formally established in September 1999 when finance

ministers and central bank governors of seven major industrial countries

(Canada, France, Germany, Italy, Japan, the United Kingdom and the

United States) met in Washington, D.C. in the aftermath of the financial

crisis of 1997-1998, which revealed the vulnerability of the international

financial system in context of economic globalization and showed that

key developing countries were insufficiently involved in discussions and

decisions concerning global economic issues.

Finance ministers and central bank governors started to hold annual

meetings after the inaugural meeting on December 15-16, 1999, in Berlin.

The first meeting of the G20 Leaders took place in Washington, D.C., on

November 14-15, 2008, where the Leaders agreed to an action plan to

stabilize the global economy and prevent future crises. As a result the

premier forum acquired its current name and significance.

At their first meeting in Washington, the G20 Leaders achieved general

agreement amongst the G20 on how to cooperate in key areas so as to

strengthen economic growth, deal with the financial crisis and agreed

upon three key objectives:

- restoring global economic growth;

- strengthening the international financial system;

- reforming international financial institutions.

G20 was initiated in 1999 and consists of Argentina, Australia, Brazil, Canada, China,

France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Russia,

Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the

European Union (EU).

Before

the

outbreak

of

global

financial

crisis

in

2008,

G20

meetings

of

Finance

Ministers and Central Bank Governors were held to discuss international financial and

monetary policies, reform of international financial institutions and world economic

development. The first G20 Leaders' Summit was held in 2008. In September 2009,

the

Pittsburgh

Summit

announced

G20

as

the

premier

forum

for

international

economic cooperation, marking an important progress in global economic governance

reform. The tenth Summit was held in Antalya ,Turkey in November, 2015.

Some guest

countries

and the United Nations, the

International

Monetary Fund, the

World

Bank,

the

World

Trade

Organization,

the

Financial

Stability

Board,

the

International

L