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<strong>G20</strong> through history<br />
$430BN 2%<br />
IMF firewall fund mobilised by<br />
the <strong>G20</strong> at its 2012 summit<br />
Growth above trend targeted by the<br />
<strong>G20</strong>'s 2014 Brisbane Action Plan<br />
What is<br />
the <strong>G20</strong>?<br />
The <strong>G20</strong> is an informal group of 19 countries<br />
and the European Union, with representatives<br />
of the International Monetary Fund (IMF)<br />
and the World Bank.<br />
WHAT IS THE <strong>G20</strong>?<br />
The finance ministers and central bank<br />
governors of 19 systemically significant<br />
countries and the EU began meeting<br />
in 1999, at the suggestion of the G7<br />
finance ministers in response to the<br />
global financial crisis of 1997–99.<br />
Since then, there has been a finance<br />
ministerial meeting every year.<br />
WHY WAS THE <strong>G20</strong> FORMED?<br />
The <strong>G20</strong> was created "as a new<br />
mechanism for informal dialogue in<br />
the framework of the Bretton Woods<br />
institutional system, to broaden<br />
the dialogue on key economic<br />
and financial policy issues among<br />
systemically significant economies and<br />
to promote cooperation to achieve<br />
stable and sustainable world growth<br />
that benefits all".<br />
WHAT DOES THE <strong>G20</strong> DO?<br />
The <strong>G20</strong> was created as a<br />
deliberative rather than decisional<br />
body, but one designed to<br />
encourage "the formation of<br />
consensus" on "international<br />
issues". It focuses on policy<br />
and has a mandate to promote<br />
international financial stability.<br />
82 <strong>G20</strong> China: The Hangzhou Summit • September 2016 G7<strong>G20</strong>.com
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