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Explainer | What is the G20 summit and why is it important?
- The next Group of 20 (G20) summit will take place between October 3-31, 2021, in Rome, Italy, involving world leaders from 19 countries and the European Union.
- The G20 leaders held an extraordinary G20 summit in March 2020 to discuss the impact of the coronavirus
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The next Group of 20 (G20) summit will take place between October 3-31, 2021, in Rome, Italy, involving world leaders from 19 countries and the European Union.
What is the G20?
The (G20) is an international grouping made up of Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, Britain, and the United States. Spain is a permanent guest invitee.
In 2021, Algeria, Brunei-Darussalam, DR Congo, Malaysia, New Zealand, Rwanda, Switzerland and the Philippines were invited as guest countries.
International organisations that have historically contributed to the G20 work have also been invited. These include the Food and Agriculture Organisation, the Financial Stability Board, the International Labour Organisation, the International Monetary Fund, the Organisation for Economic Cooperation and Development, the United Nations, the World Bank Group, the World Health Organization, and the World Trade Organization.
In 2020, regional organisations were also invited, including the Arab Monetary Fund, the Islamic Development Bank, the Association of Southeast Asian Nations, the African Union, the Gulf Cooperation Council, and the New Partnership for Africa's Development.
It was established in 1999 to broaden the remit of the G7 – a grouping of the world’s most powerful nations, and its primary mandate is to “prevent future international financial crises”.
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