Group of Seven (G-7)
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Contact Details
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Founded
1975
History
Derives from informal meetings of finance ministers arranged by Valéry Giscard d'Estaing of France and Helmut Schmidt of Germany in the early 1970s. When they became heads of government - respectively President of France and Chancellor of the Federal Republic of Germany - they decided to invite the heads of government of other "most industrialized countries" - Italy, Japan, United Kingdom and USA - to join the meetings, the first such being Nov 1975, Rambouillet (France).
At the level of finance ministers and central bank governors, replaced F-XF2680 - Group of Five (G-5) as main policy coordination group during 1986-1987, particularly following the Louvre Accord of Feb 1987, agreed by G-5 plus Canada, and subsequently endorsed by G-7. Since 1987, G-7 finance ministers and central bank governors meet at least biannually. Managing Director of F-XF2266 - International Monetary Fund (IMF) usually participates, by invitation. When Russia joined, Group became H-XF2036 - Group of Eight (G-8). On explusion of Russia, 2014, became Group of Seven again.
Aims
Monitor developments in the world economy; assess economic policies.
Events
10 past events available with paid subscription only.Members
Available with paid subscription only.Type I Classification
Available with paid subscription only.Type II Classification
Available with paid subscription only.Subjects *
Available with paid subscription only.UN Sustainable Development Goals **
UIA Org ID
XJ4647
Last News
2023
** UN SDGs are linked to the subject classification.
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