G-7 Group of Seven
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The G-7, or Group of Seven, is a group of Finance Ministers that analyzes, discusses, evaluates and acts on the most critical issues of the global economy. These seven leaders represent the most developed and industrialized economies in the world.
The G-7 meets multiple times each year to review economic conditions and policies.
G-7 is not the same as G-8, which holds yearly meetings between government heads, instead of finance ministers.
The G-7, or Group of Seven, is a group of Finance Ministers that analyzes, discusses, evaluates and acts on the most critical issues of the global economy. These seven leaders represent the most developed and industrialized economies in the world.
The G-7 meets multiple times each year to review economic conditions and policies.
G-7 is not the same as G-8, which holds yearly meetings between government heads, instead of finance ministers.
With the recent financial crisis that began in 2007/8, the G-7 has meet regularly to address these issues. They met in Washington DC on 11 April 2008 and 10 October 2008, and on 14 February 2009 in Rome.
During that meeting in Rome, Japan’s Finance Miniser Shoichi Nakagawa appeared to be drunk. Read the EconomyWatch article on this incident here:
The G-7 membership list is as follows:
Previous G-7 meetings have been held in the following nations:
- 1975: Rambouillet, France
- 1976: San Juan, Puerto Rico
- 1988: Toronto, Canada
- 1990: Houston, USA
- 1996: Lyon, France
- 2001: Palermo, Italy
- G20, Group of Twenty
- G8, Group of Eight
- BRIC – The BRIC Countries
