G8 and G20 Overview

Who attends the G8 and G20 summits? What is discussed at these meetings? Why do the G8/G20 matter to Micah Challenge?

Who is involved?

The G8 (Group of 8) is a meeting of senior officials and heads of state and government from Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States.  The European Union functions as a ninth member. The G20 (Group of 20) is a similar forum to the G8, only with a broader and more economically varied slate of member nations, plus officials from global economic institutions including the IMF and the World Bank. Although the G20 currently represents 90% of the world’s GDP, 90% of the countries are not included in its membership. It is likely that the G20 will replace the G8 as the main economic council of wealthy nations at some point in the future.

What is discussed at the G8/G20?

Both groups essentially act as the main economic council of the world’s wealthy nations.  The host of the groups rotates annually among the member countries, with the country holding presidency have a considerable degree of control and power over the agenda of these summits.  The G8 summit has consistently dealt with macroeconomic issues, international trade, and relations with developing countries.  As the G8 is attended by eight of the world’s most powerful heads of governments the agenda has broadened over time to include issues such as terrorism, human rights and the environment.   So far the G20 has primarily served as a forum for cooperation and consultation on matters relating to the international financial system, playing a particularly prominent role in reacting to the world financial crisis.

Why do the G8/G20 matter to Micah Challenge?

Both the G8 and G20 wield an enormous amount of power and influence over issues related to poverty. Development has regularly featured as a key issue on the G8 summit agenda in recent years.  The 31^st G8 summit in 2005, which was held at the Gleneagles Hotel in Scotland, is widely considered to be one of the most significant international meetings regarding development.  $50 billion was pledged in aid to developing countries by 2010 on top of a substantial agreement to forgive the debt of Highly Indebted Poor Countries.   Since 2005 the G8 has had an extremely mixed record regarding keeping the promises made at Gleneagles.  The grassroots campaign One has published an annual Data Report tracking the progress of the G8 and their aid commitments. The US, Britain and Canada have all mostly delivered on their Gleneagles commitments, with Germany, France, and by far the worst culprit, Italy giving less than they have promised.

The G8 and G20 summits both have the potential to make significant decisions to help get the Millennium Development Goals (MDGs) back on track.  Several world leaders, including US President Barack Obama, have already stressed the need for the G8 to recommit to making serious and sustainable progress toward the MDGs.