WHAT IS THE G20?
The G20 is an international group initially founded in 1999 after the Asian financial crisis as a forum for the finance ministers and central bank governors of 19 countries and the European Union. In 2008, in the midst of the global financial crisis, the US President George W. Bush invited the leaders of the G20 members to coordinate actions in order to respond to the crisis giving the start to the actual G20 Leader’s Summit. Since 2010 the meeting is held annually and the host country change every year.
The G20 has no permanent Secretariat and the responsibility to set the Summit agenda relies on the host country. Besides the G20 Summit, finance ministers and central governors of the members keep meeting every year to advance the decisions taken at the Summit and to prepare the next meetings.
G20 leaders' personal representatives, known as Sherpa, oversee negotiaton over the course of the year, discussing agenda items for the summit and coordinating the work of the G20. They hold a multi-year mandate and ensure institutional continuity. Within the G20, working groups are established with the aim to assist leaders in addressing G20 policies.
G20 also works with its official engagement groups, the B20, C20, L20, T20 and Y20, comprising business, civil society, organised labour, academia and youth. ISPI is the Italian representative in the T20 (Think 20), the groups of Think Tanks of the G20 countries.
TIMELINE: THE EVOLUTION OF LEADER'S SUMMIT