Rio de Janeiro - Saba:
The leaders of the world's largest economies kicked off the G20 summit in Rio de Janeiro, Brazil on Monday, with the agenda prioritizing the fight against poverty and promoting reforms in global institutions.
According to AFP, almost all G20 leaders are scheduled to attend the two-day summit, including US President Joe Biden and Chinese President Xi Jinping.
Although the summit's final statements are not legally binding, they often carry significant political weight, signaling a collective stance on key global challenges, and the event will also see the handover of the group's presidency to South Africa.
The host country has the right to invite countries from outside the group to participate in the summit, and international organizations such as the World Health Organization (WHO) and the World Trade Organization (WTO) also participate in the event.
G20 countries represent 85 percent of the world's economy, are the largest contributors to multilateral development banks that help channel climate finance, and are responsible for more than three-quarters of global greenhouse gas emissions.
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