G20 summit in Rio de Janeiro: Eleven things you need to know about the G20

The heads of state and government of the leading economic powers are meeting this Monday for their annual summit in the Brazilian metropolis of Rio de Janeiro.

The “Group of 20” (G20)…

… consists of the European Union, the African Union and 19 of the strongest economies of all continents: Argentina, Australia, Brazil, China, Germany, France, Great Britain, India, Indonesia, Italy, Japan, Canada, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey and the USA.

… is largely, but not completely, represented by the heads of state and government at the summit in Rio de Janeiro. Russian President Vladimir Putin has canceled and is sending Foreign Minister Sergei Lavrov to represent him – as he did in the last two years after the Russian invasion of Ukraine. The Saudi Crown Prince Mohammed bin Salman is also not coming – the background is unclear.

…represents more than 60 percent of the world’s population.

… brings together more than four fifths of the world’s economic power and three quarters of world trade.

… hosts international organizations such as the World Bank and the United Nations (UN) at every summit. Spain and Singapore are also there every time. This time Brazil has also invited 18 guest countries, primarily from the so-called global south, i.e. Latin America, Africa and Asia.

… is now actually a G21 because the African Union was accepted as a new member last year.

… was founded for international coordination on financial and economic issues.

… but now also deals with many other global issues, from the fight against terrorism to climate protection and wars.

… has generally met once a year since 2008 at the level of heads of state and government. There were even two meetings during the financial crisis in 2009 and 2010. The finance ministers and central bank heads have met annually since 1999.

… usually decides on joint declarations by the heads of state and government at their summit meetings, which, although not legally binding, nevertheless have a strong political signal effect.

… will be led by South Africa next year.