April 2, 2008 – 5:39 pm
- Institution: Group of 10
- Abbreviation: G10
- Type: Public
- Founded: 1964
- Members Total: 11
- Membership in:
- Membership of: BIS, OECD, European Commission, IMF
- Description: The Group of Ten is made up of eleven industrial countries (Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United Kingdom and the United States) which consult and co-operate on economic, monetary and financial matters. The Ministers of Finance and Central Bank Governors of the Group of Ten usually meet once a year in connection with the autumn meetings of the Interim Committee of the International Monetary Fund. The Deputies of the Group of Ten meet as needed, but usually between two and four times a year. Ad hoc committees and working parties of the Group of Ten are set up as needed.
The Group of Ten (G-10) refers to the group of countries that have agreed to participate in the General Arrangements to Borrow (GAB), a supplementary borrowing arrangement that can be invoked if the IMF’s resources are estimated to be below member’s needs. The GAB was established in 1962, when the governments of eight IMF members—Belgium, Canada, France, Italy, Japan, the Netherlands, the United Kingdom, and the United States—and the central banks of two others, Germany and Sweden, agreed to make resources available to the IMF for drawings by participants, and, under certain circumstances, for drawings by nonparticipants. The GAB was strengthened in 1964 by the association of Switzerland, then a nonmember of the Fund, but the name of the G-10 remained the same.
- Working Group:
- Outreach:
- Reporting to:
- Website:http://www.bis.org/publ/g10.htm
- Highest Organ: Minister and Governors Meeting
- Chair:
- Seat: Basel
- Function:
- Standards:
Topics of this post:
basel,
bis,
central banks,
ec,
finance ministers,
financial architecture,
g10,
imf,
oecd,
Organisations,
public
See also
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