The Group of Twenty (G20) is an international forum comprising 19 developed and developing countries, along with the European Union (EU) and the African Union (AU), to address global economic issues. Established in 1999 as an informal platform for finance ministers and central bank governors from the world's 20 most significant economies, the G20 emerged in response to the Asian financial crisis of 1997-98. Its initial aim was to mitigate the financial repercussions and contagion effects of the Asian financial crisis, as well as other crises like the Mexican peso crisis of 1994 and the Russian financial crisis of 1998. In the wake of the 2008 global financial crisis, the G20 was elevated to the level of heads of state and government, becoming the premier forum for international economic cooperation. Initially focused on broad macroeconomic policy, the G20's agenda has since expanded to encompass governance, finance, the digital economy, education, agriculture, trade, sustainable development, energy transitions, health, climate change, and environmental issues. The G20's mission is to unite the world's major economies to discuss and coordinate economic and financial policies, fostering a more stable and prosperous global economy through international cooperation and coordination.
Human Sciences Research Council (Fri,) studied this question.