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G20 Summit hits TO
Origins of the G20
The Group of 20 was first established in the wake of the Asian financial crisis of the late 1990s as a meeting of finance ministers and central bank governors. Its goals were to bring stability to financial markets and to promote economic cooperation. Membership consists of advanced and emerging economies from all regions of the globe.
With the onset of the global financial crisis in 2008, the G20 was seen as the most effective forum to lead global efforts to stem the crisis and mitigate its effects. G20 leaders gathered on three separate occasions to stabilize the financial system, coordinate national economic policies to steer the world towards recovery, and ensure that the international financial institutions were provided with the right underpinnings and adequate resources.
The Group of 20 was first established in the wake of the Asian financial crisis of the late 1990s as a meeting of finance ministers and central bank governors. Its goals were to bring stability to financial markets and to promote economic cooperation. Membership consists of advanced and emerging economies from all regions of the globe.
With the onset of the global financial crisis in 2008, the G20 was seen as the most effective forum to lead global efforts to stem the crisis and mitigate its effects. G20 leaders gathered on three separate occasions to stabilize the financial system, coordinate national economic policies to steer the world towards recovery, and ensure that the international financial institutions were provided with the right underpinnings and adequate resources.
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