The Group of Twenty Finance Ministers and Central Bank Governors — known as the G-20 — is a group of finance ministers A minister of finance has many different jobs in a government. He or she helps form the government budget, stimulate the economy, and control finances. Finance ministers are often found in state or provincial governments if that country has a form of federalism and central bank A central bank, reserve bank, or monetary authority is a banking institution granted the exclusive privilege to a lend a government its currency . Like a normal commercial bank, a central bank charges interest on the loans made to borrowers, primarily the government of whichever country the bank exists for, and to other commercial banks, typically governors from 20 economies: 19 countries, plus the European Union The European Union is an economic and political union of 27 member states, located primarily in Europe. Committed to regional integration, the EU was established by the Treaty of Maastricht on 1 November 1993 upon the foundations of the pre-existing European Economic Community. With almost 500 million citizens, the EU combined generates an (EU). It has also met three times at heads-of-government level: Washington, D.C. in November 2008 The G-20 Leaders Summit on Financial Markets and the World Economy took place on November 14–15, 2008, in Washington, D.C. It achieved general agreement amongst the G-20 on how to cooperate in key areas so as to strengthen economic growth, deal with the financial crisis, and lay the foundation for reform to avoid similar crises in the future, London in April 2009 The G-20 Leaders' Summit on Financial Markets and the World Economy was held in London on 2 April 2009 at the ExCeL Centre. It followed the first G-20 Leaders Summit on Financial Markets and the World Economy, which was held in Washington, D.C. on 14–15 November 2008. Heads of government or heads of state from the Group of Twenty Finance and Pittsburgh in September 2009.
Collectively, the G-20 economies comprise 85%[3] of global gross national product A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product , gross national product (GNP), and net national income (NNI), 80% of world trade The world economy can be evaluated in various ways, depending on the model used, and this valuation can then be represented in various ways . It is inseparable from the geography and ecology of Earth, and is therefore somewhat of a misnomer, since, while definitions and representations of the "world economy" vary widely, they must at a (including EU intra-trade) and two-thirds of the world population The term world population commonly refers to the total number of living humans on Earth at a given time. As of 8 October 2009, the Earth's population is estimated by the United States Census Bureau to be 6.789 billion. The world population has been growing continuously since the end of the Black Death around 1400. There were also short term falls.[2]
The G-20 is a forum for cooperation and consultation on matters pertaining to the international financial system. It studies, reviews, and promotes discussion among key industrial and emerging market countries of policy issues pertaining to the promotion of international financial stability, and seeks to address issues that go beyond the responsibilities of any one organization.
With the G-20 growing in stature since the 2008 Washington summit The G-20 Leaders Summit on Financial Markets and the World Economy took place on November 14–15, 2008, in Washington, D.C. It achieved general agreement amongst the G-20 on how to cooperate in key areas so as to strengthen economic growth, deal with the financial crisis, and lay the foundation for reform to avoid similar crises in the future, its leaders announced on September 25, 2009 that the group will replace the G8 The Group of Eight is a forum, created by France in 1975, for governments of the six richest countries in the world: France, Germany, Italy, Japan, the United Kingdom, and the United States. In 1976, Canada joined the group (thus creating the G7). In becoming the G8, the group added Russia in 1997. In addition, the European Union is represented as the main economic council of wealthy nations.[4]
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Lynn Dartez
Wed, 05 Aug 2009 19:42:03 GM
This September 24-25 Pittsburgh will host the next summit of the . G20. , a group of finance ministers and central bank governors from the world's largest . economies. who meet twice yearly to discuss and coordinate the international financial system. ... The presence of the . G20. summit in Pittsburgh will be a . major. - if short-lived - disruption to the city and the people who work and live here, with or without protests. Mayor Luke Ravenstahl has acknowledged as much, ...
