UPSC Prelims 2023 Question:
Q . Consider the following statements about G-20:
Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Learn more about G20 in the given explanation below.
The G20 operates on the basis of annual meetings of Finance Ministers and Central Bank Governors, with a leaders' summit held once a year. The G20 consists of two parallel tracks called the Finance Track and the Sherpa Track. These two tracks play an active role in shaping ideas and priorities for the host presidency while also guiding the intergovernmental negotiations carried out throughout the presidency. They prepare and follow up on the issues and commitments adopted at the Summits.
Structure of G20 Summit
- The Sherpas of member countries are the personal emissaries of the Leaders.
- They concentrate on socio-economic issues such as agriculture, anti-corruption, climate, digital economy, education, employment, energy, environment, health, tourism, trade and investment.
- They oversee all the negotiations over the year, discuss the agenda for the Summit and coordinate the substantive work of G20.
- It is headed by the Finance Ministers and Central Bank Governors, who generally meet four times a year, with two meetings being held on the sidelines of World Bank /International Monetary Fund meetings.
- Focus areas: Fiscal and Monetary policy issues such as global economy, infrastructure, financial regulation, financial inclusion, international financial architecture, and international taxation.
Therefore, option (c) is the correct answer.
Subject: Polity | International Relations
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