G20 facts for kids
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Member countries of the G20
Countries represented through the membership of the European Union Countries represented through the membership of the African Union Countries permanently invited (Spain) |
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| Formation | 26 September 1999 2008 (heads-of-state/heads-of-government summits) |
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| Type | International organization |
| Purpose | Bring together systemically important industrialized and developing economies to discuss key issues in the global economy. |
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Membership
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Chairman (Incumbent)
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 Lula da Silva, President of Brazil |
The G20, or Group of 20, is a special group of 19 countries, plus the European Union (EU) and the African Union (AU). These members work together to solve big problems affecting the global economy. This includes things like keeping money stable around the world, fighting climate change, and helping countries grow in a way that lasts.
The G20 includes most of the world's largest economies. Both rich and developing countries are part of it. Together, G20 members make up about 80% of the world's total economic output. They also handle 75% of all international trade. About two-thirds of the global population lives in G20 countries. They also cover 60% of the world's land area.
The G20 started in 1999 because of several money problems around the world. Since 2008, the leaders of these countries meet at least once a year. These meetings include heads of government or state, finance ministers, and other important officials. The EU is represented by the European Commission and the European Central Bank. Other countries and groups are sometimes invited to join the discussions. In 2023, the African Union became the 21st member.
In 2009, the G20 announced itself as the main place for countries to work together on money and economy issues. The group has become very important globally. However, some people criticize it for having limited members and not having strong powers to make rules happen. Meetings often have protests, especially from groups against globalization.
Contents
What is the G20 and its Purpose?
The G20 is an important group where leaders from the world's biggest economies meet. They talk about how to make the global economy stronger and more stable. They also discuss big challenges like climate change and how to help countries develop in a fair way.
How the G20 Started
The G20 was created in 1999. It came about because of several money problems that affected many countries in the late 1990s. Leaders realized that the smaller groups, like the G7, weren't enough to handle these global issues. They needed a bigger group that included more important countries from around the world.
Canadian Finance Minister Paul Martin and US Treasury Secretary Larry Summers were key in suggesting this new group. They wanted a place where major economies could work together to keep the world's money system stable. The first meeting of finance ministers was held in Berlin in December 1999.
Early Topics of Discussion
From the beginning, the G20 focused on how to manage the global economy. The topics changed each year, but they always aimed at making things better.
For example, in 2006, they talked about "Building and Sustaining Prosperity." This included how countries could grow steadily and how to improve the World Bank and International Monetary Fund (IMF). In 2008, they discussed fair competition in money markets and clean energy.
After the big financial crisis of 2007–2008 hit, the G20 became even more important. Leaders realized they needed to work together to find solutions.
G20 Leaders' Meetings
The G20 holds important meetings called summits. At these summits, the top leaders of each member country meet. Before 2011, they met twice a year. Since 2011, they meet once a year.
- In 2008, the first leaders' summit was in Washington, D.C.
- In 2009, they met in London and Pittsburgh.
- In 2010, they met in Toronto and Seoul.
- Since 2011, summits have been held annually in different cities like Hangzhou (2016), Hamburg (2017), Buenos Aires (2018), Osaka (2019), Riyadh (2020 - held online due to COVID-19), Rome (2021), and Bali (2022).
Besides the main leaders' summits, there are also meetings for ministers. For example, agriculture ministers, foreign ministers, and trade ministers have their own G20 meetings.
In 2012, G20 tourism ministers met in Mexico. They recognized that travel and tourism can help create jobs and grow economies. This was a big step for the industry.
In 2014, Australia was hosting the summit. There was a discussion about whether Russia should be allowed to attend due to events in Ukraine. Other countries reminded Australia that the G20 belongs to all members equally.
The 2015 summit in Antalya, Türkiye, focused on making growth fair for everyone. They also discussed climate change and terrorism.
In 2016, the G20 agreed to support the Sustainable Development Goals for a better future. They focused on strong growth, protecting the planet, and helping developing countries.
The 2022 summit in Bali, Indonesia, focused on global health after the COVID-19 pandemic. They also discussed digital changes and clean energy. A special "Pandemic Fund" was launched to help prevent future health crises.
India hosted the 2023 summit. Their theme was "One Earth, One Family, One Future." India's Prime Minister Narendra Modi wanted the G20 to focus on issues important to the "Global South," like climate change and managing country debts. This summit also saw the African Union join as a new member.
Brazil is hosting the 2024 summit. They started "G20 Social" to let regular people and groups share their ideas and help shape discussions.
How the Chair Rotates
To make sure different countries lead, the G20 presidency rotates every year. All members (except the EU and AU) are divided into five groups. Each year, a country from a different group takes over as chair. They hold the position from December 1st to November 30th. Countries within the chosen group decide among themselves who will be the next G20 President.
Here's how the groups are set up:
| Group 1 | Group 2 | Group 3 (Americas) | Group 4 (Western Europe) | Group 5 (East Asia) |
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To keep things running smoothly, the current chair works with the past chair and the next chair. This group is called the "troika."
How the G20 is Organized
The G20 does not have a main office or a permanent staff. The country that is currently the chair sets up a temporary office. This office helps organize all the meetings and coordinate the group's work.
For example, India was the chair in 2023 and hosted the summit. Brazil is the current chair and will host the 2024 summit.
Who are the G20 Members?
As of 2023, there are 21 members in the G20:
- Argentina
- Australia
- Brazil
- Canada
- China
- France
- Germany
- India
- Indonesia
- Italy
- Japan
- Mexico
- Russia
- Saudi Arabia
- South Africa
- South Korea
- Turkey
- United Kingdom
- United States
- the European Union
- the African Union
Besides these members, other countries and groups are often invited to attend. These include Spain, the Chair of ASEAN, and a representative from the New Partnership for Africa's Development (NEPAD). Important international organizations like the United Nations, the World Bank, and the International Monetary Fund also join the meetings.
Leaders of G20 Members
At the leaders' summits, the top officials from each of the 19 countries, the African Union, and the European Union attend. At other meetings, finance ministers and central bank governors are present.
Here are the current leaders and financial officials for each member:
| Member | Leader | Finance portfolio | Portfolio minister | Central bank | Central bank governor |
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 Argentina |
Javier Milei | Minister of Economy | Luis Caputo | Central Bank of the Argentine Republic | Santiago Bausili |
 Australia |
Anthony Albanese | Treasurer | Jim Chalmers | Reserve Bank of Australia | Michele Bullock |
| Brazil |
Luiz Inácio Lula da Silva | Minister of Finance | Fernando Haddad | Central Bank of Brazil | Roberto Campos Neto |
 Canada |
Justin Trudeau | Minister of Finance | Chrystia Freeland | Bank of Canada | Tiff Macklem |
 China |
Xi Jinping | Minister of Finance | Lan Fo'an | People's Bank of China | Pan Gongsheng |
| Li Qiang | |||||
 France |
Emmanuel Macron | Minister of the Economy | Bruno Le Maire | Bank of France | François Villeroy de Galhau |
 Germany |
Olaf Scholz | Minister of Finance | Christian Lindner | Deutsche Bundesbank | Joachim Nagel |
 India |
Narendra Modi | Minister of Finance | Nirmala Sitharaman | Reserve Bank of India | Shaktikanta Das |
 Indonesia |
Joko Widodo | Minister of Finance | Sri Mulyani | Bank Indonesia | Perry Warjiyo |
 Italy |
Giorgia Meloni | Minister of Economy and Finance | Giancarlo Giorgetti | Bank of Italy | Fabio Panetta |
 Japan |
Fumio Kishida | Minister of Finance | Shun'ichi Suzuki | Bank of Japan | Kazuo Ueda |
 Mexico |
Andrés Manuel López Obrador | Secretary of Finance and Public Credit | Rogelio Ramírez de la O | Bank of Mexico | Victoria Rodríguez Ceja |
 Russia |
Vladimir Putin | Minister of Finance | Anton Siluanov | Bank of Russia | Elvira Nabiullina |
 Saudi Arabia |
Salman bin Abdulaziz Al Saud | Minister of Finance | Mohammed Al-Jadaan | Saudi Central Bank | Fahad Almubarak |
 South Africa |
Cyril Ramaphosa | Minister of Finance | Enoch Godongwana | South African Reserve Bank | Lesetja Kganyago |
 South Korea |
Yoon Suk Yeol | Minister of Economy and Finance | Choi Sang-mok | Bank of Korea | Rhee Chang-yong |
 Turkey |
Recep Tayyip Erdoğan | Minister of Treasury and Finance | Mehmet Şimşek | Central Bank of the Republic of Turkey | Fatih Karahan |
 United Kingdom |
Rishi Sunak | Chancellor of the Exchequer | Jeremy Hunt | Bank of England | Andrew Bailey |
 United States |
Joe Biden | Secretary of the Treasury | Janet Yellen | Federal Reserve | Jerome Powell |
 European Union |
Charles Michel | Commissioner for Economy | Paolo Gentiloni | European Central Bank | Christine Lagarde |
| Ursula von der Leyen | |||||
 African Union |
Mohamed Ould Ghazouani | Commissioner for Economic Affairs | Victor Harison | African Central Bank (yet to be established) | TBA |
| Moussa Faki |
What the G20 Focuses On
The G20's main goals are to keep the world's money system stable and help economies grow.
Money and Growth
When the G20 first started, it focused a lot on how countries manage their debts and keep the global money system strong. Leaders promised to put a lot of money into international groups like the World Bank and IMF to help fix the global financial system.
The main topics at G20 summits are always about making the global economy grow, improving international trade, and setting rules for financial markets.
Protecting the Planet
After the UN Sustainable Development Goals and the Paris Climate Agreement were made in 2015, the G20 started to add more important topics to its agenda. These include things like:
- How people move between countries (migration)
- Digital technology
- Jobs
- Healthcare
- Helping women succeed in business
- Aid for development
- Stopping climate change
G20 countries produce almost 75% of the world's carbon emissions. In 2009, they promised to stop giving money to companies that use fossil fuels in ways that are not efficient. However, between 2015 and 2021, G20 members still gave over $3.3 trillion to fossil fuel companies. Some countries even increased these payments.
G20 Discussion Groups
The G20 has "Engagement Groups." These are independent groups led by organizations in the host country. They bring together different people and groups to create ideas and suggestions. These ideas are then given to the G20 leaders to consider.
For the 2022 G20 summit in Indonesia, there were 10 Engagement Groups. These groups helped create proposals and ideas for the G20 leaders. New groups, like "Startup20," also started under India's G20 leadership in 2023.
How Important is the G20?
The G20 includes many powerful countries, so it has a big say in global decisions. However, it doesn't have the power to force countries to follow its rules.
Some people question if the G20 is truly fair or "legitimate." They point out that it doesn't have a formal rulebook, and its most important meetings are held in private.
G20 summits can also be expensive to host, especially for security. Protests often happen at these meetings. For example, in 2010, the G20 summit in Toronto led to large protests and arrests.
Who Should Be a Member?
The G20 says its members are important for the world's money system. They also try to include countries from different parts of the world and with large populations. However, the list of members hasn't changed much since it started.
Some people argue that the G20 doesn't include enough African countries. Others say it's hard to make everyone happy. As US President Barack Obama once said, "Everybody wants the smallest possible group that includes them."
Norway's View
Norway's Prime Minister Jonas Gahr Støre once called the G20 "one of the greatest setbacks since World War II." He felt that because only 21 members are in the group, it leaves out many countries (173 members of the UN are not in the G20). Norway is a rich country and a big helper in UN development programs, but it's not in the G20. Støre argued that the G20 weakens other international groups like the IMF, World Bank, and United Nations.
However, Norway has since worked with the G20 on topics like health, energy, and climate. Norway even attended the 2017 G20 summit in Hamburg, Germany.
Spain's Position
Spain is a large economy, ranking among the top 15 in the world. Its economy is bigger than some current G20 members like Argentina or South Africa. Many Spanish companies are also global. Even though Spain is a permanent guest at G20 meetings, it doesn't plan to ask to become a full member.
Poland's Aspirations
In contrast, the government of Poland has often asked to join the G20. They believe their economy is strong enough (ranked 18th in the world) to be a member. They also see themselves as the biggest country in their region that has gone through major political and economic changes.
Experts have also suggested that Poland should be considered for G20 membership. They believe Poland's economy is becoming a leader in Europe.
Criticisms from Foreign Policy
The American magazine Foreign Policy has criticized the G20. It questions the actions of some G20 members and suggests that some countries shouldn't be members at all. The magazine has also said that the G20 hasn't done enough to fix the world's money problems after the Great Recession.
Calls to Remove Russia
In March 2022, after the Russian invasion of Ukraine, US President Joe Biden suggested that Russia should be removed from the G20. He also thought Ukraine should be allowed to attend the 2022 summit, even though it's not a member. Canada's Prime Minister Justin Trudeau also said Russia's role should be re-evaluated.
Russia said it wouldn't be a big problem if they were removed, as many G20 members were already against them economically. China, however, suggested that removing Russia would not be helpful. At the 2022 summit, Ukrainian President Volodymyr Zelenskyy spoke via video and called the group the 'G19' to show his view that Russia should not be part of it.
Images for kids
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G20 members (dark blue), countries represented through the European Union (light blue) and previously invited states (pink) as of 2016.
See also
In Spanish: G20 para niños
- Model G20
- G8
- G7
- Regional Power
- League of Nations
