DMPQ: . Write a short note on G7. (IR)

G7 is a group consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.  The European Union is also represented within the G7. These countries are the seven major advanced economies as reported by the International Monetary Fund.  Formally called G8 with Russia in it, but due to Crimean crisis Russia was ejected from the group.  The organization was founded to facilitate shared macroeconomic initiatives by its members in response to the collapse of the exchange rate 1971, during the time of the Nixon Shock, the 1970s energy crisis and the ensuing recession.  The group meets annually on summit site to discuss economic policies, while the G7 finance ministers have met at least semi-annually, up to 4 times a year at stand-alone meetings.

 

OPSC  Notes brings Prelims and Mains programs for OPSC  Prelims and OPSC  Mains Exam preparation. Various Programs initiated by OPSC  Notes are as follows:- For any doubt, Just leave us a Chat or Fill us a querry––

Leave a Comment

[jetpack_subscription_form title=”Subscribe to OPSC Notes” subscribe_text=”Never Miss any OPSC important update!” subscribe_button=”Sign Me Up” show_subscribers_total=”1″]