Thursday, May 28, 2009
The White House has announced that the Group of Twenty Finance Ministers and Central Bank Governors (G20) will meet in Pittsburgh September 24 and 25. The meeting is planned as a meeting of “deputies” according to the G20 website. The full session meets once a year with several smaller meetings held throughout the year. The group is made up of leaders from the world’s 19 largest economies and the European Union. The G20 was formed “as a response both to the financial crises of the late 1990s and to a growing recognition that key emerging-market countries were not adequately included in the core of global economic discussion and governance.” The website lists a mandate for the group of, “The G20 is an informal forum that promotes open and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability. By contributing to the strengthening of the international financial architecture and providing opportunities for dialogue on national policies, international co-operation, and international financial institutions, the G20 helps to support growth and development across the globe.” In the past, thousands of protesters from around the world have gathered in the cities hosting the meetings. In April, London hosted the annual meeting where mostly peaceful protests turned violent when a group began smashing windows and looting a Royal Bank of Scotland office.