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The G20, or Group of Twenty, is an international forum comprising 19 countries and the European Union. Its members represent around 80 per cent of the world’s economic output and two-thirds of its population. The G20 was established in 1999 with the aim of promoting international financial stability and sustainable economic growth.
The G20 holds annual summits where leaders from member countries gather to discuss global economic issues and make decisions on policies and actions to be taken. The host country for the summit rotates among the member countries each year. India currently holds presidency of the G20.
The G20 member countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi, Arabia, South Africa, South Korea, Turkey, United Kingdom, and the United States.
In addition to an annual summit, the G20 also holds meetings throughout the year at various levels, including finance ministers and central bank governors, sherpas (representatives of the leaders), and working groups on specific topics.
What is Sherpa Track?
The Sherpa Track is a G20 process where high-level government officials, called Sherpas, from each member country work together to prepare for the G20 summit. During India’s presidency, 13 Working Groups and 2 Initiatives will meet to discuss priorities and provide recommendations for the summit. The Sherpa Track aims to inform leaders’ discussions and decisions at the summit. The Sherpa Track focuses on several important issues, such as agriculture, anti-corruption, culture, digital economy, disaster risk reduction, development, education, employment, environment and climate sustainability, energy transitions, health, trade and investment.
What is Financial Track?
The G20 Finance Track addresses global macroeconomic matters through meetings involving finance ministers, central bank governors, their deputies, and various working groups. The Finance Track focuses on several important issues, such as Framework Working Group (FWG), International Financial Architecture (IFA), Infrastructure Working Group (IWG), Sustainable Finance Working Group (SFWG), Global Partnership for Financial Inclusion (GPFI), Joint Finance and Health Task Force, International Taxation agenda, Financial Sector issues.
Based on the G20 calendar, there are several events scheduled for March 2023. Take a look:
Sherpa Track
Finance Track
The April 2023 events are as follows:
Sherpa Track
Finance Track
Overall, these meetings and working group sessions aim to facilitate international cooperation and promote policies that support sustainable and inclusive economic growth.
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