English PSSSB Practice 107

G20 (Group of Twenty) is an influential international forum that brings together the world's major developed and emerging economies to discuss and coordinate on global economic stability and development. Established in 1999 in response to major financial crises, the G20 consists of 19 countries along with the European Union, representing around 85% of global GDP, more than 75% of international trade, and about two-thirds of the world's population. The primary objective of the G20 is to promote international financial stability, sustainable economic growth, and effective global governance through cooperation and dialogue. Over time, its agenda has expanded beyond macroeconomic coordination to include issues such as poverty reduction, climate change, digital transformation, health resilience, supply-chain security, energy transition, and inclusive growth. G20 leaders meet annually at summits, supported by meetings of finance ministers, central bank governors, and working groups that focus on specific global challenges. The forum plays a key role during global crises by enabling rapid coordination among major economies, as seen during the 2008 global financial crisis and the COVID-19 pandemic. G20 also works closely with international institutions like the IMF, World Bank, and WTO to reform global financial systems and improve economic cooperation. An important feature of the G20 is its emphasis on dialogue between developed and developing nations, ensuring that the concerns of emerging economies are reflected in global decision-making. While the G20 does not have binding authority, its collective decisions strongly influence global economic policies and international cooperation. Overall, the G20 serves as a vital platform for addressing complex global issues, strengthening multilateralism, and promoting balanced, inclusive, and sustainable development in an increasingly interconnected world.