The Group of Ten (G10) is a group of 11 industrialized nations that share similar economic interests and meet annually to discuss international financial matters. The G10 was formed when the wealthiest members of the International Monetary Fund (IMF) agreed to participate in the General Arrangements to Borrow (GAB), an agreement that provides the IMF with additional funds to increase its lending ability12.
- G10 Membership: The member countries of the G10 are Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United Kingdom, and the United States12.
- G10 Functions: The G10 ministers and central bank governors gather to discuss financial and monetary policies that impact member countries, trade, and the global economy. They meet at the International Monetary Fund and the World Bank annual meetings and often at the Bank for International Settlements (BIS)12.
- G10 Critiques: The G10 has been criticized for its lack of responsiveness to the needs of developing countries1.
The G10 plays a significant role in setting international financial standards and coordinating economic policies among its member countries, which collectively represent a substantial portion of the global economy.
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