G-20
The Group of Twenty Finance Ministers and Central Bank Governors (also known as the G-20, G20, and Group of Twenty) is a group of finance ministers and central bank governors from 20 major economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank.The G-20 heads of government or heads of state have also periodically conferred at summits since their initial meeting in 2008. Collectively, the G-20 economies account for approximately 86% of the gross world product (GWP), 80 percent of world trade (including EU intra-trade), and two-thirds of the world population.
The G-20 was proposed by former Canadian Prime Minister Paul Martin as a forum for cooperation and consultation on matters pertaining to the international financial system. The group was formally inaugurated in September 1999, and held its first meeting in December 1999. It studies, reviews, and promotes high-level discussion of policy issues pertaining to the promotion of international financial stability, and seeks to address issues that go beyond the responsibilities of any one organization. With the G-20 growing in stature after the 2008 Washington summit, its leaders announced on 25 September 2009, that the group would replace the G8 as the main economic council of wealthy nations.[4] Since its inception, the G-20's membership policies have been criticized by numerous intellectuals, and its summits have been a focus for major protests by anti-globalists, nationalists and others.
The heads of the G-20 nations met semi-annually at G-20 summits between 2008 and 2011. Since the November 2011 Cannes summit, all G-20 summits have been held annually. Russia currently holds the chair of the G-20, and hosted the eighth G-20 summit in September 2013. The next summit is in Australia in Brisbane in 2014, chaired by Tony Abbott, Prime Minister of Australia.
The Group of Twenty Finance Ministers and Central Bank Governors (also known as the G-20, G20, and Group of Twenty) is a group of finance ministers and central bank governors from 20 major economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank.The G-20 heads of government or heads of state have also periodically conferred at summits since their initial meeting in 2008. Collectively, the G-20 economies account for approximately 86% of the gross world product (GWP), 80 percent of world trade (including EU intra-trade), and two-thirds of the world population.
The G-20 was proposed by former Canadian Prime Minister Paul Martin as a forum for cooperation and consultation on matters pertaining to the international financial system. The group was formally inaugurated in September 1999, and held its first meeting in December 1999. It studies, reviews, and promotes high-level discussion of policy issues pertaining to the promotion of international financial stability, and seeks to address issues that go beyond the responsibilities of any one organization. With the G-20 growing in stature after the 2008 Washington summit, its leaders announced on 25 September 2009, that the group would replace the G8 as the main economic council of wealthy nations.[4] Since its inception, the G-20's membership policies have been criticized by numerous intellectuals, and its summits have been a focus for major protests by anti-globalists, nationalists and others.
The heads of the G-20 nations met semi-annually at G-20 summits between 2008 and 2011. Since the November 2011 Cannes summit, all G-20 summits have been held annually. Russia currently holds the chair of the G-20, and hosted the eighth G-20 summit in September 2013. The next summit is in Australia in Brisbane in 2014, chaired by Tony Abbott, Prime Minister of Australia.
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