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G-20 Finance Ministers Meeting hosted by Indonesia

Tags: Summits

Indonesia hosted the finance ministers and central bank governors of the G-20 countries at Jakarta on 17 February 2022 in a virtual mode. As the President  of the G-20 in 2022, Indonesia is organising the finance minister and central bank governors of the G-20 countries on 17 and 18 February 2022.

Indian finance minister Mrs. Nirmala Sitharaman represented India in the meeting. 

Facts 

G-20 Group 

  • Group of 20 or G-20 is a multilateral organisation which was set up in 1999.

  • It consists of the world's major developed and developing countries.

  • It consists of 19 countries and the European Union. The member countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States.

  • The presidency of the G20 rotates every year among its members, with the country that holds the presidency working together with its predecessor and successor, also known as Troika, to ensure the continuity of the agenda. Currently Italy, Indonesia, and India are the Troika countries.

  • Italy was the President of the G-20 in 2021. Indonesia is the President for 2022 and India will be the President in 2023. 

  • The first Summit meeting of the leaders of the G-20 was held in 2008 at Washington, United States.

  • The G20 has no permanent secretariat.

  • G-20 members constitute 60% of the world population, 80% of World economy and 75% of world trade.

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