G20 Finance Ministers and Central Bank Governors Meeting
The Asian financial crisis highlighted the necessity to include emerging countries with access to international capital markets in discussions on the international financial system among the G7 countries. Accordingly, at the G7 Cologne Summit in June 1999, the G7 Finance Ministers meeting agreed to set up the G20 Finance Ministers and Central Bank Governors meeting.
The G20 Finance Ministers and Central Bank Governors meeting provides a forum for key countries in the international financial system to discuss major international economic issues and to coordinate to achieve the stable and sustainable growth of the global economy. The meeting has been convened annually since 1999.
Participants in the meeting are: Finance Ministers and Central Bank Governors of the G7 countries (Canada, France, Germany, Italy, Japan, U.K. and U.S.), Argentina, Australia, Brazil, China, India, Indonesia, Korea, Mexico, Russia, Saudi Arabia, South Africa and Turkey; the Finance Minister of the EU presidency country; the European Central Bank (ECB) President; Finance Ministers and Central Bank Governors of some invited countries; and representatives of international organizations including the IMF and World Bank.
The G20 Finance Ministers and Central Bank Governors meeting held in 2018 under Argentina’s presidency discussed the global economy, the future of work, infrastructure investment, international financial architecture, financial sector reform, international taxation, and combatting terrorist financing.
On June 8 and 9, 2019, the G20 Finance Ministers and Central Bank Governors meeting will be held in Fukuoka under Japan’s presidency.