G20 Anti-corruption Working Group

G20 Anti-corruption Working Group
Source : PIB
GS II : Important International institutions, agencies and fora- their structure, mandate

What is discussed under G20 Anti-corruption Working Group?

The Second meeting of the G20 Anti-corruption Working Group that was inaugurated on May 25 by Union Minister of State for Defence & Tourism.

The meeting had wide participation from 90 delegates of 20 member countries, 10 Invitee countries and 9 International Organisations including UNODC, OECD, Egmont Group, INTERPOL and IMF.
The G-20 Anti-Corruption Working Group (ACWG) has been in charge of organising the collective and national initiatives taken by its members.
India is once again welcome the delegates at Kolkata for the Third ACWG conference from August 9–11.

It was established at the G-20 summit in Toronto in June 2010.
The group’s goal is to put together comprehensive suggestion for leaders to consider on how the G20 could continue to make useful and practical contributions to the global fight against corruption.
The G-20 Anti-Corruption Working Group (ACWG) has been in charge of organizing the collective and national initiatives taken by its
Image by Mohamed Hassan from Pixabay

members.
The ACWG is chaired by the Presidency of the G20 and a co-chair.
In 2022, the group is co-chaired by Indonesia and Australia.

Who are the members ACWG group?

- 19 G20 countries and the European Union, Singapore, Spain and Switzerland as permanent guest countries
- As well as additional guest countries invited by the respective presidency.

Major Focus areas of ACWG

Who are the observers of ACWG?

International organizations and intergovernmental bodies act as observers
- In particular the United Nations Office on Drugs and Crime (UNODC), the Organisation for Economic Co-operation and Development (OECD), the World Bank, the International Monetary Fund (IMF) and the Financial Action Task Force (FATF).
- In addition, the ACWG works closely with various G20 engagement groups, in particular with civil society (C20) and the private sector (B20).
The group’s work is guided by the St. Petersburg Strategic Framework and by multi-year action plans.
Also the group is obliged to report annually on its progress and regularly publishes monitoring or accountability reports.

The G20 was founded in 1999
It has the aim of examining methods to guarantee financial stability around the world.
It is an intergovernmental body comprised of the European Union (EU) and 19 other nations.
- Argentina, Australia, Brazil, Canada, China, France, Germany, Greece, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States are the other members of the G20.
The G-20 works to advance international commerce, financial market regulation, and overall economic growth.
Although it is not a legislative body, its deliberations impact the monetary policies of all its members.
G20 is the foremost forum for global economic cooperation because its members collectively represent 85% of the world’s GDP, 75% of its trade, and 2/3 of its population.
The G20 currently comprises of Finance Track with 8 work streams, Sherpa Track with 12 work streams and 10 Engagement Groups of private sector/civil society/independent bodies.

The G20+ is a bloc of developing nations which was established on August 20, 2003.
Its origins was during the Brasilia Declaration signed by the foreign ministers of India, Brazil and South Africa on 6th June 2003.
It is responsible for
- 60% of the world population
- 26% of the world’s agricultural exports
- 70% of its farmers.

Daily Current Affairs : Click Here

IAS Current Affairs