What is #G20? Why and when was it made? | Jagran Business

Officially, the G20 started in 1999, but in 2008, amid the American financial crisis, better coordination was established among the member countries of this forum. In fact, in the midst of the financial crisis in 2008, US President George W. Bush inaugurated the G20 summit and invited the member states for it. After this the process did not stop and since 2010 the G20 meeting started being held annually. However, the host country changes every year.

The G20 group includes the US, Argentina, Brazil, Australia, Canada, Mexico, Turkey, Indonesia, South Korea, Japan, China, Germany, the UK, Saudi Arabia, South Africa, Italy, France, Russia and the European Union, including India.

The G20 is divided into two parts - the Financial Track and the Sherpa Track. The Financial Track is attended by the finance ministers and central bank governors of the G20 members and focuses exclusively on the agenda related to the financial sector. The Sherpa track, on the other hand, addresses agendas outside the financial sector. It also prepares various documents for discussion at the summit. Therefore, Sherpas are usually appointed directly by the head of government/country.