Here is everything you need to know about the G20 summit
Leaders of the G20 nations will gather in Bali, Indonesia, for an annual summit made up of 19 of the world’s major economies plus the EU. The 17th G20 Leaders’ Summit will be held at the Apurva Kempinski, Bali, on November 15 and 16.
The G20, which is an economic global powerhouse, accounts for nearly two-thirds of the global population, 85% of the world’s economic output and 75% of world trade.
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, South Korea, Japan, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US, and the EU all form part of the G20.
The G20 was formed in 1999 n the wake of the Asian financial crisis and was originally a meeting of the finance ministers and central bankers of 20 of the world’s largest established and emerging economies in an effort to resolve the global economic and financial crisis.
As the world sees and feels the effects of the Russia-Ukraine war, on the back of a deadly pandemic which hurt both developed and developing economies, coupled with a growing climate crisis, and a staggering humanitarian crisis in the horn of Africa, the decisions at the G20 Leaders’ Summit are critical to the current global political climate.
North Korea’s simmering nuclear programme, and China’s increasing global ambitions will also probably be high on the agenda for discussion.
Russian President Vladimir Putin will not attend in person, according to the Russian embassy in Indonesia. Russia will be represented by veteran Foreign Minister, Sergei Lavrov.
On Monday, the UK’s Foreign Secretary, James Cleverly said the UK will not normalise ties with Russia in light of the Ukrainian conflict as the two countries attend the G20 summit in Indonesia.
Source: IOL
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