Which of the following statements about G-20 is NOT correct?

Answer & Explanation

Correct answer: (D) Chile is a member of G20.

G20 Members

Chile, though an important Latin American economy, is not a permanent member of the G20. However, Chile is often invited as a guest country to G20 summits.

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Verification of Other Statements

• (A) Correct – The G20 was established in 1999 as a forum for finance ministers and central bank governors following the Asian financial crisis.
• (B) Correct – The first G20 Leaders’ Summit was held in Washington D.C., USA, in November 2008 in response to the global financial crisis. Prior to this, G20 meetings were held at the finance minister level.
• (C) Correct – The presidency of the G20 rotates annually among member countries, following a system that ensures regional representation and balance.