What does the letter “G” stand for in G20 Nations?

Correct option is D

Correct Answer: (d) Group

Explanation:
The "G" in G20 stands for "Group", making it the Group of 20 (G20). The G20 is an intergovernmental forum comprising 19 countries and the European Union (EU). It was established in 1999 to discuss and coordinate global economic policies, financial stability, and development issues. The G20 represents major economies that collectively account for around 85% of global GDP, 75% of international trade, and two-thirds of the world's population.

The G20 Summit is an annual meeting where world leaders, finance ministers, and central bank governors discuss issues such as economic growth, trade, climate change, and sustainable development.

Information Booster:
● The G20 was founded in 1999 in response to the Asian financial crisis.
● It includes 19 countries plus the European Union (EU).
● The 2023 G20 Summit was hosted by India (New Delhi).
● India, the USA, China, Russia, and the EU are among the key members of the G20.
● Unlike the G7, which consists of only developed nations, the G20 includes both developed and developing countries.