G5 - Group of Five
April 2, 2008 – 5:24 pm- Institution: Group of 5
- Abbreviation: G5
- Type: Public
- Founded: 1969-1984
- Members Total: 5
- Membership in: not applicable
- Membership of: not applicable
- Description: The Group of Five (G-5) major industrial countries was established in the mid-1970s to coordinate the economic policies of France, Germany, Japan, the United Kingdom, and the United States. (These countries’ currencies also constituted the SDR, an international reserve asset, created by the IMF in 1969 to supplement the existing official reserves of member countries). The G-5 was the main policy coordination group among the major industrial countries through the Plaza Agreement of September 1985. It was subsequently superseded by the Group of Seven (G-7).
- Working Group: not applicable
- Outreach: not applicable
- Reporting to: not applicable
- Website: not applicable
- Highest Organ: not applicable
- Chair: not applicable
- Seat: not applicable
- Function: First political coordinating body of Finance Ministers
- Standards:not applicable
Source: IMF Factsheet - A Guide to Commitees, Groups and Clubs
Topics of this post: finance ministers, financial architecture, g5, g7, Organisations