SSB Future Officers
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BRICS:-
• British economist Jim O’Neill had coined the acronym “BRIC” in 2001.
• It was officially formed in 2006, originally including Brazil, Russia, India and China. Its first summit took place at Russia in 2009.
• In 2010, South Africa became the 5th member of the grouping.
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Group of Twenty (G-20)
• It is an international forum for the governments and central bank governors from 19 countries and the European Union.
• The first G20 Summit was held in Berlin in December 1999 and was hosted by the finance ministers of Germany and Canada.
• It was formed in 1999 to discuss policies relating to financial stability, in the aftermath of the Asian Financial Crisis of 1997-1998.
• Its agenda was expanded since 2008 including heads of governments / heads of states as well as finance ministers and foreign ministers.
• There are no formal criteria for G20 membership and the composition of the group has remained unchanged since it was established.
• For the first time, India will host the annual G-20 Summit in 2022.
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