GS Paper 2:
Topics Covered: Important International institutions, agencies and fora, their structure, mandate.
Context:
The G20 Anti-corruption Working Group, which for the first time includes sport as a specificity within its mandate, has reached consensus on the draft high level principles on Preventing and Combating Corruption.
About ACWG:
Established by G20 Leaders at the Toronto Summit in 2010.
- Responsible for updating and implementing the G20 Anti-corruption Action Plan.
- Reports to G20 Leaders.
- It cooperates closely with and supports the work of relevant international organizations, including the Organization of Economic Cooperation and Development, the United Nations, the World Bank, the International Monetary Fund and the Financial Action Task Force.
The G20 is an annual meeting of leaders from the countries with the largest and fastest-growing economies. Its members account for 85% of the world’s GDP, and two-thirds of its population.
- The G20 Summit is formally known as the “Summit on Financial Markets and the World Economy”.
Genesis of G20:
After the Asian Financial Crisis in 1997-1998, it was acknowledged that the participation of major emerging market countries is needed on discussions on the international financial system, and G7 finance ministers agreed to establish the G20 Finance Ministers and Central Bank Governors meeting in 1999.
Full membership of the G20:
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States and the European Union.
The G20 developing nations, also called G21/G23/G20+ is a bloc of developing nations which was established on August 20, 2003.
Its origins can be traced to the Brasilia Declaration signed by the foreign ministers of India, Brazil and South Africa on 6th June 2003.
- The G20+ is responsible for 60% of the world population, 26% of the world’s agricultural exports and 70% of its farmers.
InstaLinks:
Prelims Link:
- G20 vs G20+ vs G7 vs G8.
- Objectives and sub- groups.
- Overview of Geographical locations of the member countries.
- Overview of the 2003 Brasilia Declaration.
- Who is is hosting G-20 Leaders’ Summit in 2020?
- When was the Anti-Corruption Working Group established?
Mains Link:
Do you think the recent G20 summits have turned into talking shops rather than getting down to brass tacks? Critically analyse.
Sources: PIB.
