2010 G20 Seoul Summit - G20 SUMMIT LEADERS [1/2]
G20 Major Economies
The Group of Twenty Finance Ministers and Central Bank Governors (G-20, G20, Group of Twenty) is a group of finance ministers and central bank governors from 20 economies: 19 countries plus the european single currency. Their heads of government or heads of state have also periodically conferred at summits since their initial meeting in 2008. Collectively, the G-20 economies comprise 85% of global gross national product, 80% of world trade (including EU intra-trade) and two-thirds of the world population.
The G-20 is a forum for cooperation and consultation on matters pertaining to the international financial system. It studies, reviews, and promotes discussion (among key industrial and emerging market countries) of policy issues pertaining to the promotion of international financial stability, and seeks to address issues that go beyond the responsibilities of any one organization. With the G-20 growing in stature since the 2008 Washington summit, its leaders announced on September 25, 2009, that the group will replace the G8 as the main economic council of wealthy nations.
The heads of the G-20 nations have met semi-annually at G-20 summits since 2008. The most recent was held in Toronto on June 26–27, 2010, and the next will be in Seoul on November 11–12, 2010. Starting in 2011, G-20 summits will be held annually.
