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Multiple Choice Questions

Which one of the following statements about the Group of Twenty G20 is not correct ........

Current Events and Developmental Issues International Affairs

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Which one of the following statements about the Group of Twenty (G20) is not correct?

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EPFO APFC 2023

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It was founded in 1999.

The G20 summit is held annually under the leadership of a rotating Presidency.

The G20 members represent around 85% of the global GDP.

The G20 comprises twenty countries.

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Explanation:

- Option 1: It was founded in 1999.

- This statement is correct. The G20 was established in 1999 in response to financial crises of the late 1990s to bring together major advanced and emerging economies to stabilize the global financial market.

- Option 2: The G20 summit is held annually under the leadership of a rotating Presidency.

- This is also correct. The G20 Presidency rotates annually among its members, and the host country organizes the G20 summit for that year.

- Option 3: The G20 members represent around 85% of the global GDP.

- Correct. The G20 countries collectively account for approximately 85% of the world's Gross Domestic Product (GDP), making them a significant economic bloc.

- Option 4: The G20 comprises twenty countries.

- Incorrect statement. The G20 actually consists of 19 countries plus the European Union, making the entity comprise more than just 20 countries.

Correct Answer: Option 4

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