The G20.....

The G20 (or Group of Twenty) is an international forum for the governments and central bank governors from 19 countries and the European Union (EU).....

 

Founded in 1999 with the aim to discuss policy pertaining to the promotion of international financial stability, the G20 has expanded its agenda since 2008 and heads of government or heads of state, as well as finance ministers, foreign ministers and think tanks, have periodically conferred at summits ever since. 

 

It seeks to address issues that go beyond the responsibilities of any one organization.  Membership of the G20 consists of 19 individual countries plus the European Union. The EU is represented by the European Commission and by the European Central Bank. Collectively, the G20 economies account for around 90% of the gross world product (GWP), 80% of world trade (or, if excluding EU intra-trade, 75%), two-thirds of the world population, and approximately half of the world land area.  

 

With the G20 growing in stature after its inaugural leaders' summit in 2008, its leaders announced on 25 September 2009 that the group would replace the G8 as the main economic council of wealthy nations. Since its inception, the G20's membership policies have been criticized by some intellectuals, and its summits have been a focus for major protests. 

 

The heads of the G20 nations held summits twice in 2009 and twice in 2010. Since the November 2011 Cannes summit, G20 summits have been held annually.