Ten years of the G20: unconditional achievements, sustainable challenges, new risks, future priorities[Десять Лет «Группе Двадцати»: Безусловные Достижения, Устойчивые Вызовы, Новые Риски, Будущие Приоритеты]

Informal nature often provokes G20 accusations of lack of legitimacy and effectiveness. Our analysis shows that such criticism is not entirely fair. Over the past decade, member countries have accepted 2,230 commitments and demonstrated a high level of their implementation (about 75%). Improving the financial regulatory system, especially in countries where regulatory gaps have led to a global crisis; strengthening oversight of national financial institutions and regulators; providing global liquidity to overcome the crisis; coordination and implementation of reforms of the international tax system are the indisputable achievements of the G20. The current geopolitical situation forms a new reality in the system of international relations. The ability of the G-20, created in very different conditions, to cope with sustainable and new risks is being questioned. However, the results of the G20’s work over the past decade and the significant potential for the development and implementation of collective decisions suggest that the G20 could take responsibility for the formation of new rules in the system of international economic relations.