Over dozens of thousands of years, our earth has been changing either through natural causes or simply just because of humans. As the world revolves, we humans have constantly been developing and learning new materials on just how to get on. In this modern era, ensuring the economy runs well is tremendously important for a life, and nonetheless, to pay attention to our surroundings as we do so.
Ever since the COVID-19 pandemic hit, not only Indonesia’s, but the rest of the world’s economy has hit a roadblock. Public activities are heavily restricted in most areas, and along with that, the world’s economy started deteriorating. However, over the past year, so many have been trying to recover the financial state of the world, and that is where Bank Indonesia along with the other G20 members comes in.
TO TELL ABOUT G20
G20 is a forum assembled of 20 members. Consisting of 19 countries from around the world and the EU (European Union).
With the presence of the G20 forum, 20 members unite to stabilize the world’s economy. What’s more, G20 addresses issues this world has to offer.
HISTORY OF G20
Formed in 1999, with the intention of discussing policies in an effort to reach international financial stability. G20 was formed as an attempt to find solutions to global economic conditions, as a result of the financial crisis that hit in the years 1997-1999. It consists of middle-income countries and influential systemic economic countries, like Indonesia.Â
At first, G20 Finance Ministers and Central Bank Governors started holding meetings after being advised by the G7 Finance Ministers. However in 2008, the 20 members gathered at G20’s first summit, and the country’s leaders decided to hold another meeting, due to the financial crisis that aroused in the US (United States) at the time.Â
Since then, G20 has been holding annual summits, along with that, the G20 Finance Ministers and Central Bank Governors gather several times a year, together with Sherpas.
THIS YEAR’S PRESIDENCY
