The Group of Twenty (G20) is an informal forum of the world's major economies. G20 countries account for 90% of the global GDP and 80% of world trade.The G20 includes 19 countries, as well as the EU as an entity. Apart from Russia and the EU, the member states are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Saudi Arabia, South Africa, Turkey, the UK and the United States.

The G20 was created as an anti-crisis tool in the aftermath of the series of financial and economic crises that struck different parts of the world in the late 1990s. This determined its main tasks as:

The coordination of efforts aimed at overcoming the impact of current and the prevention of future crises;A balanced development of the global economy and the revision of the international system of economic regulation in view of emerging and prospective challenges and threats.

The first meeting of the member countries' heads of state and government in 2008 is considered as the starting point of the G20's activity in its current format. Previously, it was a forum of finance ministers and central bank governors. The change was made due to the gravity of global recession.

The G20 is now regarded as the world's most powerful multilateral macroeconomic coordination and financial market control mechanism.

Traditionally, G20 meetings are attended by permanent members and representatives from guest countries and international organisations. The EU is represented by the presidents of the European Central Bank and of the European Council.

At the third G20 summit in Pittsburgh, Pennsylvania in 2009, it was decided to maintain the forum's upgraded representation level as the most appropriate for addressing the challenges of global economic development and cooperation.

The following results of the G20's efforts are regarded as the most remarkable:The progress made in reforming international financial institutions, such as the IMF and the World Bank;The higher level of national financial discipline and collective supervision over national financial and regulatory institutions;The improvements to the financial regulation system, especially in countries where drawbacks in such activity served as precursors to the global crisis;The strengthening of the influence of BRICS and other emerging or developing market economies;The establishment of financial and organisational "airbags" against new global economic slumps.

However, as all decisions are taken by consensus, some issues remain unresolved.

Russia's G20 presidency began on December 1, 2012. The Leaders' Summit will take place in St Petersburg on September 5-6, 2013. The role of the chair includes preparations for the leaders' meeting and the coordination of summit decisions. The proposals of the chair country are to be discussed openly with all participants.