Congress hosts G20 diplomats, shares political vision

Congress hosts G20 diplomats, shares political vision

1. Congress leaders held an interaction with ambassadors of G20 member-countries.
2. G20 is an international forum of the governments and central bank governors from 20 major economies formed in 1999.The group accounts for 85% of world GDP and two-thirds of the population.They have no permanent staff of its own and its chairmanship rotates annually between nations divided into regional groupings.
3. The members of the G20 consist of 19 individual countries plus the European Union (EU).The 19 member countries of the forum are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom and the United States.
4. The objectives of the G20 are:(a) Policy coordination between its members in order to achieve global economic stability, sustainable growth (b) To promote financial regulations that reduce risks and prevent future financial crises and (c)To create a new international financial architecture.
5. The 13th G20 summit was held in Buenos Aires,Argentina.Further,the  next G20 summit will be hosted by India in 2022.