What is the 'Group of 20 (G-20)'?

The Group of 20, or G-20, is a group of finance ministers and central bank governors from 19 of the world's largest economies and the European Union. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

| Term of the Day Group of 20 (G-20) The Group of 20, also called the G-20, is a group of finance ministers and central bank governors from 19 of the world's largest economies, including those of many developing nations, along with the European Union. Formed in 1999, the G-20 has a mandate to promote global economic growth, international trade, and regulation of financial markets. Because the G-20 is a forum, not a legislative body, its agreements and decisions have no legal impact, but they do influence countries' policies and global cooperation. Together, the economies of the G-20 countries represent about 90% of the gross world product (GWP), 80% of world trade, and two-thirds of the world population. After its inaugural leaders' summit in 2008, the leaders of the G-20 announced that the group would replace the G-8 as the main economic council of nations. Read More » Related to "Group of 20 (G-20)" Trade War: What to Expect From the G20 Summit As the world's largest economies get set to meet at the G20 summit, all eyes will be on the U.S and China as the two countries look to settle their trade disputes. Read More » 3 Markets to Watch After Trump Meets Xi Bonds, gold, and the semiconductors should reveal the long-term impact of this last ditch effort to resurrect trade talks. Read More » Top 25 Developed and Developing Countries The difference between developed and developing countries, along with a list of the status of 25 nations around the world. Read More » Related Definitions European Union (EU) The European Union (EU) is a group of countries that acts as one economic unit in the world economy. Its official currency is the euro. Read More » Trade War Trade wars can commence if one country perceives a competitor nation has unfair trading practices. Read More » Group of Seven (G-7) The Group of Seven is a forum of the world's seven most industrialized economies that was created in 1975. Read More » Macroeconomics Macroeconomics is the study of how the aggregate economy behaves. Read More » CONNECT WITH INVESTOPEDIA Email sent to: mondemand.forex@blogger.com To update your newsletter preferences or unsubscribe, click here. 114 West 41st St, floor 8 New York NY 10036 © 2019, Investopedia, LLC, All Rights Reserved | Privacy Policy