G20 Countries: Group of Twenty Countries (commonly called G20 Countries) is a group of intergovernmental forums that comprises 19 countries and the European Union(EU). The G20 Countries aim to work to address key issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development.
In addition to membership of these countries, there are also other forums or institutes participating in the meeting, namely, IMF, the World Bank, the International Monetary and Financial Committee and the Development Assistance Committee. The G20 Countries membership comprises a mix of the world’s largest advanced and growing economies.
Together, the G20 members represent almost 90% of the World’s GDP, 80% of international global trade, and 2/3 of the world’s population. This informal forum was formed in the year 1999 after several economic crises but from the year 2008, it was decided that the G20 summit would begin to convene once annually.
|Formation||1999( But G20 Summits began in 2008 to convene annually)|
|Purpose||Policy coordination between its members in order to achieve global economic stability, and sustainable growth;
Promoting financial regulations that reduce risks and prevent future financial crises;
Modernizing international financial architecture.
|Membership||19 Countries and European Union|
G20 Countries Names
As of now, G20 comprises 19 countries and the European Union. The G20 Countries Members list is one most treasured topics in any competitive exams. Have a look over the list of countries enjoying membership in G20:
- the Republic of Korea
- the Russian Federation
- Saudi Arabia
- South Africa
- United Kingdom
- United States.
- European Union
G20 Countries- FAQs
Q1. G20 summit 2022 held in which country?
Ans. The G20 Summit 2022 was the seventeenth meeting of the Group of Twenty (G20), a summit took place in Nusa Dua, Bali, Indonesia.
Q2. Is India part of the G20 forum?
Ans. Yes, India is the part of G20 intergovernmental forum.
Q3. G20 summit 2023 will be held in which country?
Ans. The 18th G20 Summit 2023 will be held in New Delhi, India.
Q4. Where is the G20 headquarter?
Ans. The G20 does not have any permanent secretariat or Headquarters. The G20 Presidency rotates annually according to a system which helps to ensure a regional balance over time.
Q5. What is the G20 troika?
Ans. It refers to the top grouping within the G20 that consists of the current, previous and incoming presidencies of the G20 Summit — Indonesia, Italy and India.