The G20 is an international forum for governments and organizations representing the financial and economic interests of the world’s top developed and emerging economies.
Established in 1999, the G20 serves as a multilateral platform for dialogue and coordination on economic, financial and political issues.
The G20’s main purpose is to develop and promote strong economic growth and stability, ensuring sustainable and equitable economic and financial systems.
The G20’s members host economic summits on a yearly basis to discuss the challenges facing the global economy and how best to tackle them collectively.
This year’s G20 Summit was hosted by Japan in Osaka, and discussed topics such as economic and structural reform, the promotion of free and fair trade, investments in infrastructure and sustainable development, and the implementation of inclusive societies.
Participants discussed ways to strengthen the global economic system through policies designed to reduce inequality and promote inclusive growth.
Additionally, the G20 urged member countries to use the appropriate mix of monetary, fiscal, and structural policies to create a more resilient, equitable, and inclusive global economy.
The G20 also urged countries to pursue an ‘ambitious and balanced’ approach to international and regional economic challenges, as well as how to create higher quality and more durable growth.
Furthermore, the G20 discussed solutions to the challenges posed by global warming, such as the importance of making a commitment to combat climate change through concrete actions and tangible commitments.
This includes setting ambitious targets, implementing tax reforms, investing in green research and development and introducing measures to build carbon markets, and policies to promote sustainable development.
The G20 has become an important platform for dialogue and the coordination of global economic and financial policies.
Through the G20, governments and international institutions can address a number of economic and financial challenges, promote greater inclusivity, and ensure a more just and equitable global economic system.