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Russian President Vladimir Putin arrived in Australia for the G20 summit

Russian President Vladimir Putin has arrived in Australia, where he will meet with the leaders of the BRICS countries and take part in the G20 summit, which will be held in Brisbane on November 15-16, Russia 24 channel reported.

The summit will open on November 15, while in the morning before the official ceremony, the leaders of the GXNUMX countries will meet in an informal setting to discuss the current situation in the global economy, existing risks, threats and opportunities to overcome them. In addition, it is possible that the Ukrainian crisis will also be discussed.

The summit in Brisbane, in addition to 19 member countries, which together account for more than 80% of world GDP, also invited Spain, Mauritania, Myanmar, New Zealand, Senegal, Singapore and representatives of key international organizations.

On the eve of the GXNUMX summit, the Russian president will take part in a meeting of the leaders of the BRICS countries (Brazil, Russia, India, China and South Africa). The meeting is planned to discuss the implementation of the decision to launch the new BRICS Development Bank, as well as the pool of conditional foreign exchange reserves.

For reference:

Group of 20 "(G20 or" Big Twenty ") is an informal organization uniting the largest economically developed and developing countries.

The founding conference of the G15 was held on December 16-1999, 8 in Berlin at the initiative of the finance ministers of the leading industrialized countries ("Group of 1997") - Great Britain, Italy, Canada, the United States, Germany, France and Japan (Russia, a member of the G2014 "in 1997-1998, did not participate in the meetings of the heads of the Ministry of Finance). The GXNUMX was created against the background of the XNUMX-XNUMX financial crisis. with the aim of involving developing countries in the management of the global economy.

The members of the Group are 19 countries (along with the founding countries, these are: Australia, Argentina, Brazil, India, Indonesia, China, South Korea, Mexico, Russia, Saudi Arabia, Turkey and South Africa) and the European Union. The G85 countries, home to two-thirds of the world's population, account for approximately 75% of world GDP and over XNUMX% of world trade.

The group is one of the most significant platforms on which key issues of world economic and financial policy are discussed, including those relating to the reform of international financial institutions and the problems of global economic growth. The decisions of the Group, which are made by consensus, are not binding and are subject to approval by the IMF, the World Bank and other financial and economic organizations.

The main directions of the G2010 activities for the coming year are determined by the country-chair. The chairmanship of the organization is organized on a rotational basis, while the continent must change every year (for example, South Korea chaired in 2011, France in 2012, Mexico in 2013, Russia in 2014, Australia in 2015, XNUMX - Turkey). The coordinating bodies are the interim secretariat (located in the presiding country) and the "leading troika" - the former, current and future chairmen.

At first, the main form of the Group's activity was the annual conferences at the level of finance ministers and heads of central banks, which were held in different countries of the G2008. After XNUMX, when the Group held its first meeting at the level of Heads of State and Government, the format of the meetings was changed. Now the main event is the annual summits (they are prepared by the Sherpas - representatives of the leaders of the member countries). The finance ministers meet several times a year, and meetings of the heads of other ministries are also organized.

Within the framework of the "twenty" interaction with non-state structures is carried out. Thus, since 2008, meetings of representatives of civil society have been held ("Civil Twenty", Civil-20), since 2009 - meetings of business circles ("Business Twenty", Buisiness-20), since 2010 - meetings of the "Youth 20 "(Youth-2011) and chairmen of parliaments, since 20 - representatives of trade unions (Labor-2012), since 20 - conferences of research centers (Think-XNUMX).

In addition, within the GXNUMX there are working groups to support employment, to reform the world agricultural markets and the global financial system, to combat corruption, as well as a Rapid Response Forum to discuss world food prices.

Permanent participants in key G20 meetings are the leaders of the UN, IMF, World Bank, OECD, WTO, ILO, and the Financial Stability Council. Representatives of other international organizations are often invited to advise on specific issues. In addition, the so-called guest countries are involved in the work of the G2014 and are invited by the chairman for one year. In XNUMX Australia invited Mauritania, Myanmar, New Zealand, Senegal, Singapore. Spain has a permanent guest status.

Among the main results of the GXNUMX's activities is the achievement of an agreement on a fundamental reform of the world financial system. In particular, with the support of the Group, the process of dismantling the tax haven system was initiated worldwide, many countries relaxed their banking secrecy laws and entered into bilateral agreements on the exchange of tax information. Also, decisions were made to increase the IMF's resources and to provide assistance to countries affected by the crisis, to regulate bonus payments to top managers of companies and banks, and to tighten control over financial markets.

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