G20 Engagement and the Foreign Office
G20 and Foreign Offices
The G20 began as a forum for Finance Ministers and Bank Governors in 1999, but with the addition of the Leaders’ Summits in 2008, the Executive Office (or in the case of the 2017 G20 – the German Federal Chancellery) began to play a central role within the G20. A general division of labour has evolved in preparing G20 Leaders’ Summits whereby most economic and financial issues are managed through the Finance Track, and many non-economic issues are managed through the Sherpa Track via the G20 President’s executive office and an appointed Sherpa.
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The German G20 Presidency puts the spotlight on Africa’s economic development. In its ´Compact with Africa´, the German G20 Presidency, jointly with the African partners, wants to encourage institutional investment by pension funds and life insurers in infrastructure to encourage corporate direct investment. The objective of the “Compact with Africa” is to boost growth and jobs, promote inclusion and give people economic opportunities at home so that they do not have to leave their home country to seek subsistence elsewhere. 