The Group of Twenty was founded in 1999. It aims to discuss policy pertaining to the promotion of international financial stability. It seeks to address issues that go beyond the responsibilities of any one organization. The Group of Twenty is known for its informal character.
The Issues for 2018 are:
The Question of:
- Regulating and monitoring global financial markets
- Decreasing worldwide carbon dioxide emissions by means of financial stimuli
- The impact of tariffs on the global economy
- Managing the rising cost of health care in industrialized countries
Rules of Procedure
In the Group of Twenty, there is an ad-hoc debate procedure that is used which means that no resolution is prepared beforehand. In the Group of Twenty, delegations hand in individual clauses, each clause is debated and it passes or fails. At the end of the debate, the committee will vote on the resolution as a whole. This way a resolution is created.
Just as in the real Group of Twenty, at LEMUN, there are guest countries being invited. Those guest countries have all the rights a real member has, except for their vote, which is only advisory.
The members of the Group of Twenty are: Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Russian Federation, Saudi Arabia, South Africa, Turkey, United Kingdom, the United States of America
The guest countries will be: Chile, Jamaica, The Netherlands, Rwanda, Senegal, Singapore, Spain
Mayte Steeghs (President) and Raphael Ridder (Deputy-President) will be the Student Officers for the Group of Twenty at LEMUN 2018