The G20 is a forum that is used to discuss policies surrounding international financial stability. The forum was originally formed in 1999. The G20 is made up of a group of nations with the most advanced and emergency economies in the world. These countries make up about 85% of global GDP, over 75% of global trade, and approximately two-thirds of the world’s total population. These nations also make up about half of the earth’s total land area.
The nations that make up the G20 include:
- European Union
- Saudi Arabia
- South Africa
- South Korea
- United Kingdom
- United States Summits with the nations’ leaders are held every year. The forum also works with international organizations to create policies and also engages with groups include B20, C20, L20, T20, and Y20.
The presidency of the forum rotates every year, and the president has the responsibility of putting together the G20’s agenda is coordination with other members.
Every year, the president of the G20 invites guest countries to add to the agenda and participate in events. Past guests included Malaysia, Zimbabwe, and Sengal. There are also several permanent guest invitees including the Financial Stability Board, Spain, the United Nations, the World Bank Group, and the World Trade Organization.