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G20 or the Group of 20 is the premier forum for international cooperation on the most important economic and financial issues happening around the world. Formally established in September 1999, G20 or the Group of 20 is a group of 20 finance ministers and central bank governors from 20 major economies around the world; this includes 19 major countries and the European Union. The European Union is represented by the President of European council and the European central bank. The G20 leaders from the countries have been conducting summits and meetings since 2008, since its inception. Collectively the G20 economies account for over 80% of Gross world product.
Objectives of G20 include functions like policy coordination, achieving sustainable growth, modernizing international financial structure, promoting regulations, mitigation financial risks world around etc.