G20 Summit and its Contemporary Relevance
Structure functions The G20 (Group of 20) is an international forum which includes 19 of the world’s largest economies and the European Union. It came in the aftermath of Asian financial crisis of 1999 and is a forum of governments and central bank governors from 20 major economies. Its purpose is to study, review, and promote high-level discussion of policy issues pertaining to the promotion of international financial stability Aim is to discuss policy pertaining to the promotion of international financial stability The G20 operates without a permanent secretariat or staff. The group’s chair rotates annually among the members and is selected from a different regional grouping of countries. Objectives of G20 Policy coordination among its members in order to achieve global economic stability and sustainable growth; To promote financial regulations that reduce risks and prevent future financial crises; To create a new international financial architecture. Inclusive dec...