A vision fulfilled: G20

A friend who works for CIGI – Centre for International Governance Innovation and I were discussing the expansion of the Group of 8 (including Russia) to the Group of 20 leading economies this year. I will let the article below explain the changes, and what we were discussing was the fact that Canada and specifically Deerhurst Ontario will be hosting the world of world leaders in June of 2010.

I recall the last time Canada hosted the world in Kananaskis, AB (in the mountains between Calgary and Banff) and the logistical issues that it caused. The virtual shut down of highways in and out of the city for a weeks time. With a small community now preparing to host 20 nations representatives instead of 8, there will sure to be major logistical challenges including the shut down of certain parts of vacation central for many Torontonians just as school ends for the kids.

Most likely the media will be run out of Toronto, much to their chagrin. In any event, it will be interesting to watch the preparations and outcome for the first G 20 event hosted in Canada and the world.

Excerpt from CIGI below:

Today’s announcement that the Group of 20 (G20) leading economies will permanently replace the G7 to become the “premier forum for international economic cooperation” is a landmark historical agreement that will pave the way for a new architecture of global decision making appropriate for the 21st century.

The decision to put the G20 at the centre of world efforts to build a durable recovery and make it the leading global forum on economic matters was agreed by the G20 leaders who are meeting at a summit in Pittsburgh. The G20 leaders represent countries include Brazil, India, China and other nations representing more than 80 per cent of the world’s population.

The decision marks the latest stage in the evolution of the G20 from a grouping of finance ministers, established in the 1990s, to their present role at the centre of world economic decision making, an evolution championed by CIGI almost since CIGI’s inception in 2003.

The concept of a leaders group of 20 nations to address major global challenges first emerged from discussions by CIGI and several of its partners in work that began in 2003 and has continued in several stages since.

In the wake of the financial crisis of the late 1990s, annual meetings have been held of G20 finance ministers, central bank governors and deputies to discuss economic issues. However, the first summit of G20 leaders was not convened until November 2008, in Washington DC, in response to the world financial crisis. Today’s announcement confirms the G20 as a permanent institution and the expansion of the G20’s role in global economic affairs. The G7 (G8 with Russia) will still meet twice a year to discuss security issues, but will defer economic issues to the larger grouping of nations.

To read more from CIGI see below:

See also CIGI Policy Brief #7: “Global Governance for a Global Age: The Role of Leaders in Breaking Global Deadlocks” at