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The G20 or Group of 20 is an intergovernmental forum comprising 19 sovereign countries, the European Union (EU), and the African Union (AU). [2] [3] It works to address major issues related to the global economy, such as international financial stability, climate change mitigation and sustainable development, through annual meetings of Heads of State and Heads of Government.
The G20 developing nations (and, occasionally, the G21, G23 or G20+) is a bloc of developing nations established on 20 August 2003. Distinct and separate from the G20 major economies, the group emerged at the 5th Ministerial WTO conference, held in Cancún, Mexico, from 10 September to 14 September 2003. The group accounted for 60% of the world ...
G20 engagement groups and pre-conferences are meetings with various stakeholders. These groups make policy recommendations to G20 leaders and help shape the summit agenda. Sherpas are senior officials who represent their respective countries and play a crucial role in preparing the agenda and negotiating outcomes for G20 meetings.
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At the 2011 G20 Cannes summit, the G20 called for a strengthening of the FSB's capacity resources and governance by establishing the FSB "on an enduring organizational basis". [12] In its 2012 report to the G20 Los Cabos summit , the FSB set out concrete steps to strengthen the organization's capacity, resources, and governance as well as ...
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Five leaders did not attend the G20 summit. Of them, Chinese leader Xi Jinping and Russian President Vladimir Putin participated via video link; Mexican President Andrés Manuel López Obrador, who rarely leaves the country on foreign trips, sent his Secretary of Foreign Affairs Marcelo Ebrard on his behalf; and Japanese Prime Minister Fumio Kishida and South African President Cyril Ramaphosa ...
Emerging markets were not well-represented for most of the IMF's history: Despite being the most populous country, China's vote share was the sixth largest; Brazil's vote share was smaller than Belgium's. [186] Reforms to give more powers to emerging economies were agreed by the G20 in 2010.