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Bank Foundation (संभव- 6) Online Batch, Lucknow Branch
28 April, 2025
G20 Group
Wed 16 Aug, 2023
Why In News ?
- Secretary, Ministry of Electronics and Information Technology, Alkesh Kumar Sharma formally inaugurated the G-20 Economic Working Group meeting in Bengaluru today.
- The G20 Working Group meeting and the Digital Economic Ministerial meeting held in Bengaluru will continue till August 19.
Static
| Established | Year 1999 |
| Associate | World Bank and International Monetary Fund |
| Nature | Informal group |
| Inducted member | European Union and 19 countries |
| World population representation | Total 60% |
| Headquarters | No Permanent Secretariat or Headquarters |
| Member Country | Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. |
- It is a ministerial forum that was established by the G7 in association with both developed and developing economies.
- Since 1999, the conference of Finance Ministers and Central Bank Governors is held in it.
- The finance ministers and central bank governors of the G20 nations meet twice a year.
- Representatives of the World Bank and the International Monetary Fund also participate in this meeting.
- Presidency: Rotates annually among the member countries under a process.