CURRENT AFFAIRS

Detailed explanation-1: -The 4th G20 Finance Ministers and Central Bank Governors Meeting will take place as part of the Finance Track for the G20 Leaders Summit 2020, which is to be hosted by Saudi Arabia at the end of 2020.

Detailed explanation-2: -Saudi Arabia - 2020 The 15th G20 Summit was held under the theme ‘Realising Opportunities of the 21st Century for all’. It was the first ever virtual Summit in the history of G20.

Detailed explanation-3: -Initially, Indonesia was slated to host the G20 Summit in 2020. However, as Indonesia will also hold the Chairmanship of ASEAN in 2023, India which was slated to hold the summit in 2022 agreed to exchange presidency timings with Indonesia.

Detailed explanation-4: -Since 1999, the meetings or summits of the G20 are organized a G20 Leaders’ Summit annually. The last G20 Summit was held in November 2022 in Indonesia. Presently, the Prime of India, Shri Narendra Modi, is the chairman of G20.

Detailed explanation-5: -During its presidency, Indonesia has focused on the global COVID-19 pandemic and how to collectively overcome the challenges related to it. The three priorities of Indonesia’s G20 presidency: global health architecture, digital transformations, sustainable energy transitions.