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Group of 10 (G-10)


The Group of Ten (G-10 or G10) is a group originally made up of ten countries that collaborated on monetary matters. It now includes eleven industrial countries (Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United Kingdom, and the United States) that consult and co-operate on economic, monetary, and financial matters. The group especially focuses on matters relating to international monetary stability.


The phonetic pronunciation of the term “Group of 10 (G-10)” is: /ɡru:p ʌv tɛn/ (jee-ten)

Key Takeaways

  1. The Group of Ten (G-10) is a consortium of 11 industrialized nations that work together to discuss economics, monetary and financial matters. Although it’s named G-10, it actually comprises of 11 countries: Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the UK, and the US.
  2. The G-10 was initially assembled in 1962 as a response to a world financial crisis and was expected to disband once the crisis had ended. However, the group remained together due to the effective financial cooperation and collaboration they established.
  3. While the G-10 countries only represent a small group of nations in the world, they hold significant influence due to their strong economies and financial power. The discussions and decisions made within the group have potential global economic implications.


The Group of 10 (G-10) is significant in the realms of business and finance as it represents a consortium of ten of the world’s major advanced economies. Created in 1962 in association with the International Monetary Fund (IMF), the G-10 plays a crucial role in global financial decisions and discussions. The group’s activities and decisions are vital as they can impact international financial dynamics, economic policies, and market stability. Member countries coordinate policy for monetary issues, critically affecting global financial stability. Therefore, G-10’s role in international economic and monetary developments makes it an important entity in global finance.


The Group of Ten (G-10) is a forum that facilitates consultation and cooperation on economic policy among some of the world’s largest economies. It was established in 1962, in response to the global financial uncertainties of the time, with the initial aim of coordinating policies to help ensure the stability of the global monetary system. The G-10’s formation came as a result of financial agreements made under the auspices of the International Monetary Fund (IMF) to provide monetary support via a pooling of resources, essentially creating a safety net for economies susceptible to financial shocks.The G-10’s main purpose today continues to emphasize economic and financial collaboration. Members convene regularly to discuss mutual concerns, share information, and, when required, coordinate policies for managing international financial crises. While the G-10 does not have enforcement power, its collective influence is considerable, shaping economic strategies and affecting decisions in global finance. It also serves as a platform for its members to harmonize their positions before participating in international meetings such as those of the IMF and the World Bank. In summary, the G-10 is instrumental in maintaining global financial stability and fostering economic growth among its member countries.


1) Currency Coordination: The G-10 was instrumental in the establishment of the Smithsonian Agreement in 1971, which resulted in a new set of exchange rates to rectify global financial concerns. The G-10 countries came together to address this issue, demonstrating how the league works as a collective unit to solve significant economic problems.2) Joint Resolution of Economic Crises: During the 2008 Global Financial Crisis, G-10 countries played a significant role in coordinating international response. Many members, including the United States, Canada, Germany, France and the United Kingdom, injected billions into their economies to stimulate growth and reassure investors, demonstrating the group’s role in deciding on global economic course correction.3) Debt Relief Initiatives: Project “HIPC” (Heavily Indebted Poor Countries) created by the World Bank and IMF, operational since 1996, was one of the major initiatives where G-10 members collaborated for debt relief. The members of the G-10 agreed to provide part of the finance needed to cover the cost of debt relief and ensure that the poorest countries could get help to escape the burden of unsustainable debts.

Frequently Asked Questions(FAQ)

What is the Group of 10 (G-10)?

The Group of 10 refers to an unofficial group of ten industrial countries in the International Monetary Fund, established in 1962 to facilitate consultation and cooperation on international monetary matters.

Which countries are included in the G-10?

The original G-10 countries include Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, the United Kingdom, and the United States. Switzerland later joined the group, but it remains known as the Group of Ten.

What are the main objectives of the G-10?

The main objectives of the G-10 are to carry out consultation and cooperation on monetary and financial matters, to study the monetary system, and to consider ways of improving its operation.

How does the G-10 operate?

The G-10 regularly meets at the occasion of the International Monetary Fund and World Bank assemblies. It is also in close contact with other international organizations for cooperation on global financial issues.

What is the role of the G-10 in international finance?

The G-10 is a critical forum for cooperation among advanced industrialized countries on issues relating to the international monetary system. Its existence underscores the importance these nations attach to thorough and regular discussions of issues affecting the global economy.

Has the relevance of G-10 changed over time?

Yes, the emergence of the larger G-20 group in the late 90s, which includes emerging economies like China, India, and Brazil, has overshadowed the G-10’s prominence and influence to a certain degree. However, the G-10 still remains relevant in discussions surrounding the global economy.

Who oversees the functions of the G-10?

The G-10’s activities are overseen by the Deputies, senior civil servants from the finance ministries or central banks of the member countries.

Does the G-10 have any connection with the World Bank or IMF?

Yes, G-10 was specifically established in cooperation with the International Monetary Fund. The countries involved in the G-10 also make up a significant portion of the IMF and World Bank’s decision-making structures.

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