Group Of Twenty (G-20)

Consider the following statements with reference to the Group of Twenty(G-20):

  1. The G20 is an informal group of 19 countries and the European Union, with representatives of the International Monetary Fund and the World Bank.
  2. The G-20's ranks include five members of the Group of Seven (G-7), a forum of the seven countries with the world's largest developed economies.

Choose the correct answer from the codes given below:

Only 1
Both 1 and 2
Only 2
Neither 1 nor 2