Group of Twenty

The Group of Twenty is the principal forum for international economic and financial cooperation among major economies — both advanced and emerging — accounting for roughly 85 percent of global GDP, 75 percent of international trade, and two-thirds of the world's population. Founded at finance-minister level in 1999 and elevated to leaders' summits in 2008 during the global financial crisis, the G20 is the de facto steering committee of the world economy.

At a glance

• Founded: 1999 (Founded December 1999 at finance minister level in response to the Asian financial crisis; first leaders' summit held in usa-state/washington/" data-it-autolink="1">Washington, D.C., 14–15 November 2008)
• Headquarters: No fixed headquarters (presidency rotates annually)
• Official languages: English

Mission

The G20 was created to bring emerging-economy voices into global financial governance, recognising that issues like exchange-rate stability, banking regulation, and crisis response could not be settled by the G7 alone. Modern remit covers macroeconomic coordination, trade, climate, digital economy, development, and pandemic preparedness.

Structure

There is no permanent secretariat. The presidency rotates annually among five geographic groups. Each presidency sets the agenda and hosts the leaders' summit. Below the leaders, finance ministers and central bank governors meet regularly. Two engagement tracks — Sherpa (political/development) and Finance — coordinate between summits. Several engagement groups (B20, T20, C20, Y20, W20) bring in business, think-tanks, civil society, youth, and women.

Member states

G20 has 19 member states. Membership current as of 2024-01.

• Argentina
• Australia
• Brazil
• Canada
• China
• France
• Germany
• India
• Indonesia
• Italy
• Japan
• Mexico
• Russia
• Saudi Arabia
• South Africa
• South Korea
• Turkey
• United Kingdom
• United States

Key facts

• The G20 includes 19 sovereign states, the European Union (since founding), and the African Union (admitted in 2023 at the New Delhi Summit).
• India's 2023 presidency at the New Delhi Summit succeeded in producing a leaders' declaration despite deep divisions over Ukraine — the first G20 declaration of the post-2022 era.
• The G20's OECD-led Inclusive Framework on Base Erosion and Profit Shifting brokered the 2021 global minimum corporate tax agreement, signed by 140 jurisdictions.
• The 2008 Washington Summit, called in response to the Lehman collapse, was the first G20 leaders' meeting and established the format that has persisted since.
• The G20 produced an unprecedented coordinated fiscal response in 2020, with members committing over $11 trillion to combat the pandemic.

Historic milestones