An assembly of governments and leaders from 20 of the world’s largest economies: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Russian Federation, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and the European Union.
Group of Twenty (G20)
The assembly of governments and leaders from 20 of the world’s largest economies is called the G20 (Group of Twenty). The G20 is an international forum for governments and central bank governors from 19 countries and the European Union. The forum was founded in 1999 and its main objective is to promote international financial stability and sustainable economic growth.
The G20 comprises countries from all continents, with diverse economic systems and levels of development. The G20 accounts for approximately 80% of global GDP and two-thirds of the world’s population. The G20 is unique in that it brings together developed economies and emerging economies to work together on common economic issues.
The G20 has several key responsibilities, including:
1. Promoting international financial stability.
2. Encouraging sustainable economic growth.
3. Creating a global financial regulatory framework.
4. Strengthening the international monetary system.
5. Enhancing international trade.
6. Addressing issues related to development, particularly in developing countries.
As a tutor, it is important to ensure that students have a good understanding of the role and functions of international organizations such as the G20. This understanding is critical for students who want to develop a comprehensive understanding of global economics and international affairs.
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