A platform for international economic cooperation is the G20.

The G20 is an international organisation made up of the EU and 19 independent nations. To solve important global economic concerns The international financial stability, reducing greenhouse gas emissions, and sustainable development.

The G20 and International Financial Stability: Promoting Global Growth and Economic Cooperation

Background of the G20

The G20 was established in 1999. Together with Argentina, Germany, Australia, Brazil, India, Mexico, Russia, China, and Saudi Arabia, the original members of the G7 were Canada, France, Italy, Japan, the United Kingdom, and the United States. South Africa joined in 2010.

Washington, D.C. hosted the inaugural G20 meeting in 2008. In reaction to the world financial crisis that had started the year prior, the summit was called. The G20 leaders decided to implement to deal with the crisis,

Since 2008, the G20 has convened yearly. On a rotational basis, different nations host the summits. The summit will take place in India in 2023.

Organisation of the G20

The G20 is composed of these three major pillars:

  • The G20’s highest-level gathering is the summit of leaders of state and government. The summit is held every
  • year, and a new nation hosts it each time.
  • the twice-yearly gathering of central bank governors and finance ministers. Setting the agenda for the G20
  • summit is the responsibility of the meeting, and for organising how G20 decisions are put into action.
  • The task forces and working groups , financial regulation, climate change, and sustainable development.

The global economy and the G20

The biggest meeting for international economic cooperation is the G20.

The G20 has been essential in fostering economic growth and development as well as in preventing a worldwide financial meltdown in 2008. Such climate change, sustainable development, and inequality, have also been covered during the summits.

There are many that criticise the G20. Some claim that the United States predominates the forum.

There are many that criticise the G20. Some contend that the United States and other affluent nations predominate the forum. Some people argue about the G20 is useless.

the G20 is an important meeting for global economic.

India’s G20 meeting

The G20 is currently being chaired by India. In the years leading up to the summit in 2023, the nation has been organising a variety of activities. These consist of:

Finance Ministers from the G20 and the meeting of Central Bank Governors in April 2023.

  • the May 2023 G20 Trade Ministers’ Meeting.
  • the June 2023 G20 Ministerial Meeting on the Digital Economy.
  • the July 2023 G20 Health Ministers’ Meeting.
  • From 30 October to 2 November 2023, New Delhi will host the G20 meeting. The leaders of state government
  • from the G20 officials from the IMF, the World Bank, and the UN will be present at the meeting.

Building a Resilient Global Economy is the summit’s topic for 2023.

the COVID-19’s effects on the world economy.
mitigation and adaptation to climate change.
sustainable growth.
financial stability on a global scale.
India has a big chance to show its power in politics and the economy.

 

Where Is Chandrayaan-3, ISRO Successfully Performed Its Fifth Orbit-Raising ?

Himachal Weather disaster: Landslides caused by heavy rainfall

Leave a Reply

Your email address will not be published. Required fields are marked *