Question
Q75.In which one of the following groups are all the four countries members of the G20?
A. Argentina, Mexico, South Africa and Turkey
B. Australia, Canada, Malaysia and New Zealand
C. Brazil, Iran, Saudi Arabia and Vietnam
D. Indonesia, Japan, Singapore and South Korea
Answer: A
Detailed Explanation
• The G20 (or Group of Twenty) is an international forum for the governments and central bank governors from 19 countries and the European Union (EU).
• It was founded in 1999 with the aim to discuss policy pertaining to the promotion of international financial stability.
• The members of the G20 are 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, and the European Union.
• Hence option (a) is the correct answer.
Additional Information
• The G20 was founded in 1999 in response to several world economic crises. (Asian Financial Crisis 1997)
• Since 2008, it has convened at least once a year, with summits involving each member’s head of government or state, finance minister, foreign minister.
• Each year, a different G20 member country assumes the presidency starting from 1 December until 30 November.
• The 2021 summit was held in Italy.
• The 2022, 2023 and 2024 summits will be hosted by Indonesia, India and Brazil respectively.
Trick to Remember G20 Countries
• GURU JI SITA AB SSC FCI ME kaam karti hain
o G- Germany, U- USA, R- Russia, U- U.K
o J- Japan, I- India
o S- Saudi Arabia, I- Indonesia, T- Turkey, A- Australia
o A- Argentina, B- Brazil
o S- South Korea, S- South Africa, C- Canada
o F- France, C- China, I- Italy
o M- Mexico, E- European union
G-20 in 2024
• The G20 Summit in 2024 was held in Rio de Janeiro, Brazil on November 18–19, 2024.
• This was the first time Brazil hosted the G20 Summit since the group’s formation in 1999.
• The summit marked an important moment for Brazil to assert its influence in global affairs.
• Theme: “Building a Just World and a Sustainable Planet”
G-20 in 2024- Takeaways
• Brazil’s Bioeconomy Plan
• Launched a $2 billion fund for promoting bio-based industries and sustainable energy projects.
• AI Regulation Framework
• G20 leaders agreed to establish a working group to regulate artificial
intelligence by 2025.
• Global Infrastructure Investment
• $40 billion committed to infrastructure development in low-income countries, with a focus on Africa and South Asia.
• Debt Relief for Developing Nations
• Approved a new framework for restructuring sovereign debt of heavily indebted countries.
