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Question

Which of the following best describes the Troika of Group of 20 (G20)?

A The country holding the presidency, together with the previous and next presidency-holder. Correct Answer Incorrect Answer
B Three permanent member countries holding veto power in decision making of G 20. Correct Answer Incorrect Answer
C Personal representatives of a head of state or head of government. Correct Answer Incorrect Answer
D Both a and b Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

The G20 was formed in 1999 in the backdrop of the financial crisis of the late 1990s that hit East Asia and Southeast Asia in particular. Its aim was to secure global financial stability by involving middle-income countries. Presidency of G20 & Troika: The presidency of the G20 rotates every year among members. The country holding the presidency, together with the previous and next presidency-holder, forms the ‘Troika’ to ensure continuity of the G20 agenda. Italy, Indonesia, and India are the Troika countries right now. Working of G20: The G20 has no permanent secretariat. The agenda and work are coordinated by representatives of the G20 countries, known as ‘Sherpas’, who work together with the finance ministers and governors of the central banks. India recently said ex-NITI Aayog CEO Amitabh Kant would be the G20 Sherpa after Piyush Goyal.

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