Which of the following statements are correct about G-20?

A. It has 20 sovereign nations only as its members

B. The group includes almost all 20 leading economies of the world

C. G-20 operates as an informal forum to promote dialogue between finance ministers, central banks and heads of governments

D. It represents the emergence of a new institutional world order.

Choose the most appropriate answer from the options given below: 

The correct answer is B, C and D only

Explanation:

 Key Points

• The Group of Twenty, widely known as the G-20, significantly comprises 19 countries and the European Union, consequently delineating this collective does not consist solely of individual sovereign nations.
• This international forum noticeably encompasses nearly all of the leading economies worldwide, accounting for approximately 80% of the global Gross Domestic Product.
• Pertinent countries represented within the G-20 not only include established economic powers such as the United States, China, Japan, and Germany, but also ascending economies such as India.
• Moreover, the role of the G-20 is not confined to an assembly of nations.
• It is an informal forum, designed to facilitate dialogue amongst policy-makers who can have significant impact on global economic stability, including finance ministers, central bank heads, and national leaders.
• The objectives are to promote international financial stability, stimulate economic growth worldwide, and ensure constructive cooperation among the globe's major economies.
• As we interpret the G-20's significance, it is conceivable that it metaphorically represents the emergence of a new institutional world order.
• The inclusion of emerging economies indicates a transformation in global power dynamics, striving for increased inclusivity.
• Traditional economic institutions, such as the World Bank or International Monetary Fund, mirror mid-20th century power dynamics, which were largely Western-centric.
• In contrast, the G-20 disperses a degree of this power more equitably among its varied members, signaling a new norm in international relations, even within its informal structure.