G20 Country Italy: Major Economy With Storied Past And Present

In 2021, the G20 Summit, under the Italian Presidency, focussed on three broad, interconnected pillars of action: "People, Planet, Prosperity".

G20 Country Italy President Giorgia Meloni

Prime Minister: Giorgia Meloni

---

Giorgia Meloni, a far-Right firebrand leader, has been serving as the prime minister of Italy since October 2022. She is the first woman politician to hold the premiership in Italy. She replaced Mario Draghi, an academic who served as the PM from February 2021 to October 2022.

Italy, a Southern European country, is a prominent member of the G-20, a group of major advanced and emerging economies. Italy is also a member of G7, another key grouping of seven of the world's major advanced economies.

A bridge between Europe, Africa, and the Middle East, Italy combines a rich history with contemporary leadership within the G20. The nation steeped in rich history, culture, and art plays a pivotal role within the G20. From the Roman Empire to the Renaissance, Italy's influence has spanned centuries, and today, as a G20 member, it continues to shape global discussions.

Italy hosted the 16th G20 Summit from October 30-31, 2021, in Rome. The summit was held virtually as it came in the middle of the Covid pandemic — the biggest health crisis in decades.

In 2021, the G20 Summit, under the Italian Presidency, focussed on three broad, interconnected pillars of action: "People, Planet, Prosperity".

At the two-day summit, the G20 leaders agreed to work together on a host of issues like global warming, economic recovery, COVID-19, climate and energy, biodiversity, and sustainable development.On climate change, the group leaders agreed to Keep the goal of limiting global warming to 1.5 degrees compared to pre-industrial levels within reach and accelerate their actions towards achieving global net zero greenhouse gas emissions by or around mid-century. They also agreed to implement the new rules for a more stable and fairer international tax system, including a 15 per cent global minimum corporate tax by 2023.

In their joint declaration, the G20 leaders emphasised on the recovery of the global economy. They said while the economic activity had been recovering at a solid pace due to the rollout of the vaccine, the recovery remained highly divergent across and within countries and exposed to downside risks. The leaders said they would continue to sustain the recovery, avoiding any premature withdrawal of support measures, while preserving financial stability and long-term fiscal sustainability and safeguarding against downside risks and negative spillovers.

After Italy, the next summit was held in Indonesia in 2022. And this year, the annual summit is being held under the Indian presidency in New Delhi.

The other members of the G20 are --  Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK and the US, as well as the European Union.