| The G20 or Group of Twenty is an intergovernmental forum comprising 19 countries and the European Union (EU). The 20 members in the group: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, South Korea, Japan, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union. Spain, the United Nations, the World Bank, the African Union, ASEAN, and other organizations are permanent guest invitees. |
The group’s chair rotates annually among the members and is selected from a different regional grouping of countries. The incumbent chair establishes a temporary secretariat for the duration of its term, which coordinates the group’s work and organizes its meetings. To ensure continuity, the presidency is supported by a “troika” made up of the current, immediate past and next host countries. |
The G20 is divided into two channels, namely the financial track and the Sherpa track. The financial channel, which consists of Finance Ministers and Central Bank Governors from all G20 members, specifically addresses a number of agendas related to the financial sector. Meanwhile, the Sherpa track addresses other agendas that are outside the financial sector, as well as preparing various documents to be discussed at the Summit. |