G20
On 1st December, 2019, Saudi Arabia became the first Arab nation to take over the G20 Presidency. Consider the following statements about the G20:
- The G20 is an informal group of 19 countries and the European Union, with representatives of the International Monetary Fund and the World Bank.
- It was formed in 1999, in the wake of the Asian financial crisis, to unite finance ministers and central bankers from the world’s largest established and emerging economies.
Choose the correct answer from the codes given below:
A |
Only 1
|
|
B |
Only 2
|
|
C |
Both 1 and 2
|
|
D |
Neither 1 nor 2
|
Your Ans is
Right ans is C
Your Answer Is Correct
Your Answer Is Wrong
Explanation :
- The Group of Twenty (G-20) is a forum for advancing international cooperation and coordination among 20 major advanced and emerging-market economies.
- Formed in 1999, the G-20 has a mandate to promote global economic growth, international trade, and regulation of financial markets.
- Members: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, United States and the European Union (EU)
- Together, the nations of the G20 account for around 80 percent of global economic output, nearly 75 percent of all global trade, and about two-thirds of the world’s population.
- The G20 Presidency rotates annually according to a system that ensures a regional balance over time. Reflecting its nature as an informal political forum, the G20 does not have a permanent secretariat.
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