What is the G20?
The G20 is a grouping of 20 countries: the G7 (Canada, France, Germany, Italy, Japan, UK, USA) and the EU plus Argentina, Australia, Brazil, Canada, China, India, Indonesia, Mexico, Russia, South Africa, Saudi Arabia, South Korea and Turkey. Spain also has a permanent guest invitation.
G7 Finance Ministers created the G20 in 1999, following the 1997 economic crisis, as a way to bring other countries into their discussions on global economics and finance. The group defines itself as bringing together the ‘world’s major economies’, covering 80% of global GDP, 75% of global trade, and 60% of the global population.
Since 2008, the G20 members have met for a yearly leader-level summit, and the Presidency rotates between members each year. There are a range of ministerial meetings and working groups in the lead-up to the leaders’ summit each year – covering multiple policy areas – although the primary focus of the G20 remains economic.