G20 - Aspirations And Goals

G20 has been the latest successful post-World War II initiatives aimed at the International Coordination of Economic and Financial Policies, such as the Bretton Woods System, the United Nations, The International Monetary Fund, The World Bank, G7&G8, and The World Trade Organization.

The formation of G20 was concluded at the Summit of the G7 in June 1999 and formally established at the G7 Finance Minister’s meeting in September 1999, with an inaugural meeting in December 1999 in Berlin.

Role and Members of G20

The Group of Twenty-G20 is the body of 20 of the world’s largest economies conceived in 1999 as a bloc that brings together the important Industrialized and Developing Economies to discuss international Economic and Financial Stability. Its annual summit, a gathering of G20 leaders that started in 2008, evolved into a major forum that discusses economics and other pressing global issues. Also, bilateral meetings on the summit’s sidelines have occasionally led to major international agreements. G20 Group’s most impressive achievement was its robust response to the 2008 financial crisis.

The G20 is functionally an Inter-Governmental Forum of 19 Countries and the European Union (EU). It addresses major Global economic issues like:

• International Financial Stability
• Global Gross Product…