The G20 is a forum where big economies work on money and policy matters. It has no permanent secretariat of its own. Each year a different member takes the chair.
Who sits at the table
Australia’s government lists 19 countries as members, plus the African Union and the European Union. A German central bank page from 2016 names the same 19 countries and the European Union.
Australia says the members represent 85% of global GDP and 75% of world trade. They also represent around 80% of the world’s people. The 2016 page gave different figures, so treat all of them as rough.
Born after a crisis
The G20 was set up in 1999, after the Asian financial crisis of the late 1990s. The seven big industrial nations, the G7, wanted a way to talk with emerging market economies. Those countries were becoming more important to the world economy. The group has met every year since.
Ministers first, leaders later
At first only finance ministers and central bank chiefs attended. Leaders began to meet at an annual summit in 2008, after the global financial crisis. Ministers, working groups and special events fill the rest of the year.
A club with no secretariat
Like the G7, the G20 is an informal forum. It is not an international organisation. It has no permanent secretariat and no administration of its own.
Instead, members take turns in the chair, one year at a time. The chair sets the agenda and runs the meetings. To keep each handover smooth, the last, current and next chairs work together. That trio is called the Troika.
Who holds the chair
The Australian page says the United States holds the G20 chair in 2026. South Africa held it in 2025, and the United Kingdom will host in 2027.
Seats beyond the 19
The German central bank says the IMF and the World Bank are ex officio members. They join all talks. The host may also invite other countries and regional groups.
What it aims at
The core focus is global economic development. The G20 also works on the world money system and on keeping finance stable.
