Group of Twenty (G20)

Section	Details
Introduction	– The Group of Twenty (G20) is the premier forum for international economic cooperation. – Formed in 1999 to include both developed and emerging economies in global discussions. – Addresses global economic stability, sustainable development, and financial regulation. – Represents 85% of global GDP, 75% of international trade, and two-thirds of the world’s population.
Objectives	– Economic Stability: Promote global macroeconomic stability and growth. – Financial Regulation: Enhance financial market regulation and supervision. – Sustainable Development: Foster inclusive and sustainable economic growth. – Global Trade: Advocate for an open and equitable trading system. – Climate Action: Support global environmental sustainability initiatives.
Members as of 2024	Total Members: 20 Member Countries: 1. Argentina 2. Australia 3. Brazil 4. Canada 5. China 6. France 7. Germany 8. India 9. Indonesia 10. Italy 11. Japan 12. Mexico 13. Russia 14. Saudi Arabia 15. South Africa 16. South Korea 17. Turkey 18. United Kingdom 19. United States 20. European Union African Union (Permanent member since 2023).
Reports/Indices	– G20 Roadmap for Cross-border Payments: Progress reports on improving payment systems. – G20 Strong, Sustainable, and Balanced Growth Reports: Analyses of global economic growth and policy recommendations. – Data Gaps Initiative (DGI): Addresses data gaps to enhance financial and economic policymaking. – G20 Climate Performance Reports: Assessments of climate commitments and actions by member countries. – G20 Digital Economy Reports: Insights into the impact of digital transformation on global economies. – Sustainable Finance Working Group Reports: Focus on integrating sustainability into financial markets. – G20 Trade and Investment Promotion Reports: Updates on trade flows and investment strategies among members.
Instruments	– Summit Declarations: Statements summarizing decisions and policies agreed upon by leaders. – Action Plans: Strategic frameworks for implementing initiatives. – Working Groups: Specialized teams addressing specific topics like finance, trade, and development. – Peer Reviews: Mechanisms for member countries to evaluate and learn from each other’s policies.
Structure	– Annual Summits: Leaders of member states meet to discuss and set policies. – Ministerial Meetings: Sector-specific meetings among ministers. – Sherpa Meetings: Senior officials prepare summit agendas and coordinate decisions. – Working Groups: Focus on key policy areas, reporting to ministers and leaders. – Rotating Presidency: Each year, one member country hosts and sets priorities for the G20.
Subsidiary Organs	– Financial Stability Board (FSB): Monitors and recommends measures for the global financial system. – Global Partnership for Financial Inclusion (GPFI): Advances financial inclusion globally. – Sustainable Finance Working Group (SFWG): Focuses on sustainability in financial systems. – Anti-Corruption Working Group: Promotes integrity and combats corruption worldwide. – Development Working Group: Drives initiatives supporting the UN Sustainable Development Goals (SDGs).
Committees	– Framework Working Group: Focuses on global economic stability and growth. – Development Working Group: Addresses development and sustainability issues. – Trade and Investment Working Group: Facilitates global trade and investment. – Digital Economy Task Force: Promotes policies for digital transformation. – Employment Working Group: Targets job creation and workforce development policies.
Initiatives	– G20 Compact with Africa: Promotes private sector investment in Africa. – G20 Anti-Corruption Action Plan: Tackles corruption globally. – G20 Digital Economy Task Force: Develops strategies for digital economic growth. – G20 Women’s Empowerment Initiative: Enhances gender equality and women’s workforce participation. – G20 Climate and Energy Transition Initiative: Supports clean energy and climate goals. – G20 Debt Relief Initiative: Provides debt restructuring for low-income nations. – G20 Education and Skills Development Initiative: Focuses on education reforms and skill enhancement. – G20 Green Finance Initiative: Mobilizes resources for environmentally sustainable projects. – G20 Vaccine Distribution Initiative: Ensures equitable access to vaccines worldwide. – G20 Action Plan on Marine Litter: Reduces marine pollution globally. – G20 Infrastructure Investment Initiative: Bridges infrastructure gaps in developing nations. – G20 Innovation and Technology Initiative: Encourages the adoption of emerging technologies. – G20 Humanitarian Assistance Initiative: Coordinates responses to global crises and disasters.