G20 virtual summit

G20 virtual summit

Part of: GS Prelims and GS-II – Global groupings

In News: 

• G20 leaders are likely to hold a video conference on 25th March, 2020 to discuss the coronavirus pandemic.

Key takeaways:

• Saudi Arabia, the current president of the forum, declared that it would convene a virtual summit on the extraordinary threat posed by the virus that has killed thousands across the world.

Important value additions:

G20

• 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.
• Its aim is to discuss policy pertaining to the promotion of international financial stability.
• The G20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Republic of Korea, Turkey, the United Kingdom, the United States and the European Union (EU).

Coronavirus pandemic 

• It is an on-going pandemic of coronavirus disease 2019 (COVID-19), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).