Q. Consider the following statements regarding “G – 20”:
1.It was formed after the sub–prime lending crisis.
2.The 2023 summit was held in Brazil.
Which of the statements given above is/are correct?
Answer: D
Notes:
Explanation: The G20 or Group of 20 is an intergovernmental organization comprising 19 countries and the European Union.
- It works to address major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development.
- The G20 is composed of most of the world’s largest economies. The G20 was founded in 1999 in response to several world economic crises and in its 2009 summit; the G20 declared itself the primary venue for international economic and financial cooperation.
- It was known as G7at the very first time when it was established. At the beginning of the G20 these summits were held twice a year but in the year 2011, when France chaired and hosted the meeting of the G20, then the summits have been held only one in the year.
- The 2023 summit was held in India.
Source: FORUMIAS
