Question

Statement-A: The G20 was founded in 1999 after the Asian Financial crisis as a forum for the finance ministers and Central Bank Governors to discuss global economic and financial issues.
Statement-B: It is held biannually under the leadership of a rotating presidency.
Choose the correct answer from the options given below:

• A. Statements A and B are correct.
• B. Statements A and B both are incorrect.
• C. Statement A is correct, B is incorrect.
• D. Statement A is incorrect, B is correct.

Hint:

When dealing with statements about international forums, verify the frequency of meetings and their founding dates to assess their correctness.

Answer 1

The Correct Option is C

- Statement A is correct. The G20 was founded in 1999 after the Asian Financial crisis, and its main purpose is to discuss global economic and financial issues. - Statement B is incorrect. The G20 summit is held annually, not biannually, under the leadership of a rotating presidency. Thus, Statement A is correct, and Statement B is incorrect.