Q. With reference to the Group of Twenty (G20) consider the following statements:
1.The G20 was founded in response to the global financial crisis of 2008.
2.While the share of G7 countries in the global economy has been falling, G20’s share has been largely consistent.
3.G-20 has no permanent secretariat.
How many of the above statements are correct?
Answer: B
Notes:
Explanation –
Statement 1 is incorrect. The G20 was founded in response to the Asian financial crisis of 1997-1998, which had a significant impact on the global economy.
Statements 2 and 3 are incorrect. While the share of G7 countries in the global economy has been falling, G20’s share has been largely consistent. G-20 has no permanent secretariat. The G-20 presidency is supported by the Troika, which includes the previous, current, and incoming presidencies.
Source: ForumIAS
