CURRENT AFFAIRS

Detailed explanation-1: -The first meeting of the G20 Leaders took place in Washington, D.C., on November 14-15, 2008, where the Leaders agreed to an action plan to stabilize the global economy and prevent future crises. As a result the premier forum acquired its current name and significance. Until now seven G20 Leaders’ Summits took place.

Detailed explanation-2: -After the 2008 debut summit in Washington, DC, G20 leaders met twice a year: in London and Pittsburgh in 2009, and in Toronto and Seoul in 2010. Since 2011, when France chaired and hosted the G20, the summits have been held only once a year.

Detailed explanation-3: -India’s G-20 Presidency India holds the Presidency of the G20 from December 1, 2022 to November 30, 2023. The 43 Heads of Delegations-the largest ever in G20-will be participating in the final New Delhi Summit in September next year.

Detailed explanation-4: -The Group of Twenty (G20) was formed in 1999 and was originally a meeting of the Minister of Finance and the Governor of the Central Bank in an effort to broaden the discussion of policies that are beneficial for resolving the global economic and financial crisis.