G20 countries
(The areas in dark blue represent the member countries in the G20. The areas in light blue represent members of the EU not individually represented)

The G-20 (Group of 20) is a group consisting of 19 of the world's largest economies, together with the European Union. The European Union ( EU) is a political and economic union of twenty-seven member states, located primarily in The G-20 was formed as a new forum for cooperation and consultation on matters pertaining to the international financial system. It studies, reviews, and promotes discussion among key industrial and emerging market countries 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.

History

The G-20, which superseded the Group of 33, which had itself superseded the G22, was foreshadowed at the Cologne Summit of the G-7 in June 1999, but was formally established at the G-7 Finance Ministers' meeting on September 26, 1999. For a topic outline on this subject see List of basic Argentina topics. For a topic outline on this subject see List of basic Australia topics. |utc_offset = -2 to -4 |time_zone_DST = BRST |utc_offset_DST = -2 to -5 |cctld Country to "Dominion of Canada" or "Canadian Federation" or anything else please read the Talk Page Talk People's Republic of China) PEOPLE'S REPUBLIC OF CHINA ARTICLE GUIDELINES This article is about the country For a topic outline on this subject see List of basic France topics. Germany, officially the Federal Republic of Germany ( ˈbʊndəsʁepuˌbliːk ˈdɔʏtʃlant is a Country in Central Europe. India, officially the Republic of India (भारत गणराज्य inc-Latn Bhārat Gaṇarājya; see also other Indian languages) is a country The Republic of Indonesia ( (Republik Indonesia is a Country in Southeast Asia. Italy (Italia officially the Italian Republic, (Repubblica Italiana is located on the Italian Peninsula in Southern Europe, and on the two largest For a topic outline on this subject see List of basic Japan topics. South Korea, officially the Republic of Korea and often referred to as Korea ( Korean: 대한민국 tɛː The United Mexican States ( or commonly Mexico (ˈmɛksɪkoʊ () is a federal constitutional Republic in North America. Russia (Россия Rossiya) or the Russian Federation ( Rossiyskaya Federatsiya) is a transcontinental Country extending The Kingdom of Saudi Arabia, KSA ( المملكة العربية السعودية, al-Mamlaka al-ʻArabiyya as-Suʻūdiyya) or Suudi The Republic of South Africa (also known by other official names) is a country located at the southern tip of the continent of Africa Turkey (Türkiye known officially as the Republic of Turkey ( is a Eurasian Country that stretches The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located The United States of America —commonly referred to as the The European Union ( EU) is a political and economic union of twenty-seven member states, located primarily in For other uses of G33, see G33 (disambiguation. The Group of 33 superseded the Group of 22 in early 1999 The G7 (also known as the G-7 or Group of Seven) is the meeting of the Finance ministers from a group of seven industrialized nations June 1999 was a month with thirty days The following events also occurred during the month Events 46 BC - Julius Caesar dedicates a Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) The inaugural meeting took place on December 15-16, 1999 in Berlin. Events 533 - Byzantine general Belisarius defeats the Vandals, commanded by King Gelimer, at the Battle of Events 755 - An Lushan revolts against Chancellor Yang Guozhong at Fanyang, initiating the An Shi Rebellion Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar)

The membership of the G-20 comprises the finance ministers and central bank governors of the G-7, 12 other key countries, and the European Union Presidency (if not a G-7 member); the European Central Bank; the Managing Director of the International Monetary Fund; the Chairman of the IMFC; the President of the World Bank; and the Chairman of the Development Committee. The European Union ( EU) is a political and economic union of twenty-seven member states, located primarily in The European Central Bank (ECB is one of the world's most important Central banks responsible for Monetary policy covering the 15 member countries of the The International Monetary Fund ( IMF) is an International organization that oversees the Global financial system by following the Macroeconomic The World Bank is an internationally supported Bank that provides financial and technical assistance to developing countries for development programs (e The Honourable Trevor A. Manuel, MP, Minister of Finance, Republic of South Africa, was the chairperson of the G-20 when South Africa hosted the Secretariat in 2007. Trevor Andrew Manuel (born 31 January 1956) is currently South Africa 's Minister of Finance. The Republic of South Africa (also known by other official names) is a country located at the southern tip of the continent of Africa Guido Mantega, Minister of Finance, Brazil, is the chairperson of the G-20 in 2008 when the Secretariat is hosted by Brazil. Guido Mantega (born April 7, 1949 in Genoa, Italy) is a Brazilian Economist, Politician and currently Brazil's |utc_offset = -2 to -4 |time_zone_DST = BRST |utc_offset_DST = -2 to -5 |cctld

In 2006 the theme of the G20 meeting was “Building and Sustaining Prosperity”. The issues discussed included domestic reforms to achieve “sustained growth”, global energy and resource commodity markets, ‘reform’ of the World Bank and IMF, and the impact of demographic changes due to an aging population.

In 2008, the host country Brazil has proposed dialogue on competition in financial markets, clean energy and economic development and fiscal elements of growth and development. |utc_offset = -2 to -4 |time_zone_DST = BRST |utc_offset_DST = -2 to -5 |cctld

Goals of the G20

The primary goal of the G20 is to discuss and develop policies that promote the "high and sustainable growth" of the global economy. It does this in part through promoting policies consistent with the G20 Accord for Sustained Growth agreed to in 2004. This Accord stresses a range of neoliberal policies, including:

• The elimination of restrictions on the international movement of capital
• Deregulation
• Flexible labour market conditions
• Privatisation
• Enforcement of intellectual and other private property rights
• Creating a business climate conducive to foreign direct investment
• Global trade liberalisation (through the WTO and bilateral free trade agreements)

Organization

The G-20 operates without a permanent secretariat or staff. The chair rotates between members annually, and is selected from a different regional grouping of countries each year. The chair is part of a revolving three-member management Troika of past, present and future chairs. The incumbent chair establishes a temporary secretariat for the duration of its term, which coordinates the group's work and organizes its meetings. The role of the Troika is to ensure continuity in the G-20's work and management across host years.

Cities that have hosted the G20 Summits

• 1999: Berlin, Germany
• 2000: Montreal, Canada
• 2001: Ottawa, Canada
• 2002: Delhi, India
• 2003: Morelia, Mexico
• 2004: Berlin, Germany
• 2005: Beijing, China
• 2006: Melbourne, Australia see: 2006 G20 summit
• 2007: Cape Town, South Africa

Future hosts of G20 Summits

• 2008: Salvador, Brazil
• 2009: United Kingdom

See also

• 2006 G20 Summit

External links

• G20 homepage