The G20, or Group of Twenty, is an intergovernmental forum comprising 19 countries and the European Union (EU). It was founded in 1999 after the Asian financial crisis as a forum for Finance Ministers and Central Bank Governors to discuss global economic and financial issues. The G20 has since expanded its agenda to include various topics such as trade, sustainable development, health, agriculture, energy, environment, climate change, and anti-corruption.
The main aim of the G20 is to address major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development. The G20 members represent 85% of global GDP, 75% of international trade, and two-thirds of the global population. The forum plays a crucial role in shaping and strengthening global economic cooperation.
The G20 Summit is held annually, under the leadership of a rotating Presidency. Previous summits have addressed various global challenges, including the COVID-19 pandemic, the 2008 financial crisis, the Iranian nuclear program, and the Syrian civil war. The G20s prominent membership gives it a strong input on global policy, despite lacking any formal ability to enforce rules. However, there are disputes over the legitimacy of the G20, as well as criticisms of its organization and the efficacy of its declarations.
