What is G20 Summit 2024 | Objective 

The leaders of governments and governors of the central banks of 19 nations as well as the European Union make up the summit , or Group of Twenty, an international forum.

The objective of the summit

Summit was initially established in 1999, is to address global financial and fiscal issues, strengthen financial stability, and promote inclusive and sustainable economic growth. As a means to encourage policy discussions and coordination among member nations, the summit is essential to the operation of the world economy.

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In Short:

• • • What is G20 Summit and Objective
    • List of G20 summit nations
    • Schedule of the summit
    • summit Conference 2024
    • The G20’s past

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G20 Summit 2024 | List of G20 nations

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States of America, and the European Union are the 19 nations that make up the G20 group.

Approximately 85% of the global GDP, 75% of all foreign commerce, and two thirds of the world’s population are made up of these members.

besides catering to these member nations, the summit annually extends invitations to guest nations and international organizations to attend its meetings, including the World Bank, ASEAN, OECD, United Nations, and International Monetary Fund (IMF).

 

Schedule of the G20 Summit 2024

The presidents of the 19 member countries of the summit 2024 as well as those of the African and European Unions are expected to attend the November 18 and 19, 2024, Summit in Rio de Janeiro, Brazil.

 

G20 Summit  2024 Conference

Following India as the summit president on December 1, 2023, Brazil formed a troika with the IBSA and the three nations of the Global South: South Africa, Brazil, and India. In the face of difficult challenges including debt, inequality, climate change, and regional instability India and Indonesia launched on a four-year project in 2022 to prioritize the concerns of the Global South. Even if discussions over climate action, the African Union’s summit participation, and the reform of multilateral development banks (MDBs) achieved considerable progress, much more work remains.

 

Host country	Brazil
Date	18–19 November 2024
Objective	Building a Just World and a Sustainable Planet
Venue(s)	Museum of Modern Art
Cities	Rio de Janeiro, Brazil (Host: Head of State and Government meeting on 18–19 November 2024)
Participants	G20 members, invitee countries by the Brazilian Government
Chair	Luiz Inácio Lula da Silva, President of Brazil
Follows	2023 G20 New Delhi summit
Precedes	2025 G20 South Africa summit
Website	www.g20.org

Know about The G20 Summit’s PAST 

Following the 1997–1998 Asian financial crisis, the summit was established. The crisis made clear how important it is for big economies to work together more in order to handle global economic issues.

In reaction to the global financial crisis, the summit was elevated to a leaders-level summit in 2008 from its original role as a gathering of central bank governors and finance ministers. Since then, the summit has been crucial in establishing the global economic agenda and directing international economic policy.

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