Get to know the G20 and how it differs from the G7 and G8

A number of heads of state and government delegations attended the G20 Summit in Denpasar, Bali, November 15-16 2022.

The G20 Presidency is the host for the G20 Summit. The G20 presidency is determined by consensus at the Summit based on a regional rotation system and changes every year. Before being handed over to Indonesia, the G20 presidency was held by Italy.

Quoting the Ministry of Finance's website, the G20 or Group of Twenty is a major forum for international economic cooperation whose members are the countries with the largest economies in the world consisting of 19 countries and 1 European Union institution.

The G20 consists of developing countries, one of which is Indonesia, while the G8 and G7 exclusively consist of developed countries.