Current Affair Diary 25/10/2020

G-20 Anti-Corruption Working Group Meeting

✓Recently, Saudi Arabia hosted the first-ever Ministerial Meeting of the G-20 Anti-Corruption Working Group (ACWG) virtually.

✓It was established in June 2010 at the Toronto Summit of G-20.

✓The year 2020 marks its 10th anniversary.

✓Objective: To prepare comprehensive recommendations on how the G20 could continue to make practical and valuable contributions to international efforts to combat corruption.

✓It actively works with the World Bank Group, the Organisation for Economic Cooperation and Development (OECD), and other important Organisations

✓G-20 is an informal group of 19 countries and the European Union (EU), with representatives of the IMF and the World Bank.

✓The G20 membership comprises a mix of the world’s largest advanced and emerging economies.

✓It represents about two-thirds of the world’s population, 85% of global GDP, 80% of global investment and over 75% of global trade.

✓The G20 operates as a forum and not as an organisation. Therefore, it does not have any permanent secretariat or headquarter.

✓Members: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the USA, and the EU.

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29/10/2020
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