What is the G-20?

G-20 stands for “Group of 20 [nations]” that come together every year in a different place to discuss solutions to global issues, mainly economic issues. The 20 nations included in the G-20 summit are: Australia, Japan, South Africa, France, Turkey, the USA, Saudi Arabia, Russia, Mexico, Korea, China, Canada, Italy, Indonesia, India, the EU, Germany, the UK, Brazil, and Argentina.

At their summit once a year, these nations discuss various problems whose solutions can only be reached with international cooperation. The first G-20 session (conducted in Washington D.C., USA) dealt with the economic crisis of the time.  Ever since then, the G20 has taken the responsibility of preventing further economic meltdowns with international cooperative measures. The G20 summit is also a great place to address poverty. Helping stabilize the economy and encouraging growth will result in a better economy even in poorer nations. It would help improve infrastructure, and allow smaller nations to build their nation and economy.

This year, the G20 summit, hosted by Russia, will again tackle financial and economic problems. Russia has organized its main priorities for growth in three main categories: Regulation; Jobs and Investment; and Trust and Transparency. One of the main recommendations to ensure economic growth is to confront corruption. Corruption effectively holds back progress. Especially in smaller nations, or nations where aid is necessary to build infrastructure and economy, corruption prevents funds from reaching their destination. The G-20 committee will address the issue of corruption in October. In a solution to, and an active fight against, corruption, lies the future of the fight against global poverty.

Solving economic problems will directly impact poverty; fighting poverty will result in a stronger global economy. Attempting to address economic issues with this in mind will help the international economy, and the national ones as well. The G-20 summit, which meets mainly to address these economic issues, has the potential to greatly impact the fight against global poverty.

– Aalekhya Malladi

Sources: G20, U.S. Department of State
Photo: Radio Netherlands Worldwide