The Group of Twenty (G20) is an international forum that brings together the world’s major advanced and emerging economies to discuss and coordinate global economic policy. Established in 1999 in response to the Asian financial crisis, the G20 originally functioned as a meeting of finance ministers and central bank governors but was elevated to a leaders’ summit in 2008 during the global financial crisis. Today, it consists of 19 countries plus the European Union, representing about 85% of global GDP, 75% of international trade, and two-thirds of the world’s population. Unlike the United Nations, the G20 is not a formal international organization but a forum for dialogue and cooperation, with no permanent secretariat. Its presidency rotates annually among member states, each of which hosts a summit and sets the agenda for discussions.

The G20 primarily focuses on issues of global economic stability, sustainable growth, financial regulation, and international trade, but its scope has expanded over time to include climate change, health, digitalization, and development. Each year, leaders adopt a declaration summarizing their commitments and proposed actions. Supporting the leaders’ work are various ministerial meetings, engagement groups, and working groups that bring together policymakers, experts, and stakeholders. The G20 has played a central role in responding to major crises, such as stabilizing the global economy during the 2008 financial meltdown and coordinating responses to the COVID-19 pandemic. It has also been influential in advancing reforms at international financial institutions like the International Monetary Fund and the World Bank. However, the G20 faces criticism for being exclusive, lacking binding authority, and struggling to achieve consensus among diverse members with differing national interests. Despite these challenges, it remains one of the most important platforms for international economic cooperation, bridging advanced and emerging economies to address shared global challenges.