A new meeting format for G20 summit

The G20 summit in Argentina is one of the first summits of a new format. Earlier such summits were organized under the auspices of international organizations, in particular, the IMF, where the US influence is great. Now developing G20 countries-members can invite other participants to the club. According to RISS expert Alexander Sarchev, a new meeting format allows summit participants to focus on more relevant issues for them. "This format gives hope to increase the efficiency of the G20 summit in the near future, when the member states themselves will determine the discussed issues," he said.

At the same time, the analyst noted that the summit agenda, which was proposed by the Financial Stability Board does not take into account the most interesting issues for developing countries. It focuses on digital currency, access of small and medium sized enterprises to settlements in the banking system, the introduction of banking system regulations within Basel III, and transactions in the OTC derivatives market through central counterparties. The presentation of terminological dictionary for cyber security is also expected. Judging by the list of topics that will be presented to the summit participants, acute global problems are not planned for discussion.

RISS expert underscored that the developing countries participating in the summit would be glad to discuss sanctions, trade wars, contradictions in international trade between China, the USA, and South Korea. "I suppose that the current G20 meeting does not imply serious changes or decisions related to the global financial system, the world economy, and world trade", he concluded.

summit G20