Who: G-20 Finance Ministers and Central Bank Governors Meet
Where: Ankara, Turkey
When: 4-5 September 2015
Why: To review current global financial situation
The G-20 Meeting of Finance Ministers and Central Bank Governors was held for two days on 4 September and 5 September 2015 at Ankara in Turkey.
The meeting was attended by the Finance Ministers and Central Bank Governors of the G20 members, invited countries, and the heads and senior representatives of the relevant international organizations.
India was represented by the Union Finance Minister Arun Jaitley and the governor of Reserve Bank of India (RBI) Raghuram Rajan.
The meeting reviewed the issues pertaining to current global economy including devaluation of Chinese currency (Yuan) and likely impact of change in interest rates by the Federal Reserve of the USA.
Further, it also discussed financial agenda of the Antalya Summit of the G20 leaders scheduled to be held in November 2015 in Turkey.
About G-20 Major Economies
The Group of Twenty (G20) is the premier forum for its members’ international economic cooperation and decision-making. Its membership comprises 19 countries plus the European Union.
G20 leaders meet annually, additionally during the year Finance Ministers and Central Bank Governors meet regularly to discuss ways to strengthen the global economy, reform international financial institutions, improve financial regulation, and discuss the key economic reforms that are needed in each of the member countries.
The G20 started in 1999 as a meeting of Finance Ministers and Central Bank Governors in the aftermath of the Asian financial crisis. In 2008, the first G20 Leaders Summit was held, and the group played a key role in responding to the global financial crisis.
It consists of the US, Argentina, Australia, Brazil, the UK, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, South Korea, Russia, Saudi Arabia, South Africa, Turkey, and the European Union.