Mandate of the G-X for Histori of G20

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HE

G

ROUP OF

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WENTY

:A H

ISTORY

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The study of the G-20’s History is revealing. A new institutionestablished less than 10 years ago has emerged as a central player in theglobal financial architecture and an effective contributor to globaleconomic and financial stability.While some operational challenges persist, as is typical of any newinstitution, the lessons from the study of the contribution of the G-20 toglobal economic and financial stability are important. Because of thework of the G-20 we are already witnessing evidence of the benefits of shifting to a new model of multilateral engagement.

Excerpt from the closing address of President Mbeki of South Africa to G-20 Finance Ministers and Central Bank Governors, 18 November 2007, Kleinmond, Western Cape.

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Table of Contents

Excerpt from a Speech by President Mbeki....................................................................2Executive Summary...........................................................................................................5The Group of Twenty: a History......................................................................................7

Preface............................................................................................................................7Background....................................................................................................................8

The G-22

.............................................................................................................12

The G-33

.............................................................................................................15The Formation of the G-20 and Its Structure...............................................................17

Mandate of the G-X

.............................................................................................18

Reform of the Interim Committee

........................................................................19

G-20 Links to the Bretton Woods Institutions

.....................................................19

G-20 Membership

...............................................................................................20

Chair of the G-20 and the Establishment of the Troika

......................................22

Processes

.............................................................................................................24

Response to the Establishment of the G-20

.........................................................25G-20 Objectives, Work Programme and Evolution.....................................................27

Members’ Assessment of Objectives and Work Programme

..............................39Relationship of the G-20 to Other International Institutions and Groups....................42

The G-7 and the G-20

.........................................................................................45Operational Effectiveness of the G-20.........................................................................46Institutional Effectiveness of the G-20........................................................................48Looking Forward.........................................................................................................53References....................................................................................................................55

Annex A: Study Group Participants..............................................................................58Annex B: Officials Prominent in the Establishment of the G-20 who wereInterviewed for this Report...........................................................................59Annex C: Summaries of Past Chairs, Communiqués and Background Documents.60

Chair Summary, 1999 (Canada)..................................................................................60Communiqué, 1999......................................................................................................63Background Documents, 1999.....................................................................................64Chair Summary, 2000 (Canada)..................................................................................65Communiqué, 2000......................................................................................................68

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