what is purpose of g20

what is purpose of g20

4 hours ago 4
Nature

The purpose of the G20 is to serve as the premier international forum for economic cooperation among the world's largest economies. It aims to shape and strengthen global economic governance and address major international economic issues, including financial stability, economic growth, trade, climate change, sustainable development, health, and anti-corruption

. Key objectives of the G20 include:

  • Coordinating global economic policies to promote growth and financial stability, as initially focused after its founding in 1999 following the Asian financial crisis
  • Responding collectively to global crises, such as the 2008 financial crisis and the COVID-19 pandemic, by coordinating fiscal and monetary measures
  • Promoting inclusive and sustainable development, including efforts to reduce gender workforce participation gaps, support vulnerable countries, and address climate change
  • Facilitating cooperation on global challenges that require joint international action, such as infrastructure investment, energy collaboration, and social protection for workers

The G20 members represent about 85% of global GDP, 75% of international trade, and two-thirds of the world population, giving the forum significant influence in shaping global economic policies and fostering international cooperation

. In summary, the G20's purpose is to provide a platform for the world's largest economies to collaborate on economic and financial issues, promote global economic stability and growth, and tackle broader global challenges that transcend national borders

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