To the members of the EC, the EU added Austria, Finland, and Sweden, effective January 1, 1995. Usually computed over a one-year period. The total value of goods and services produced within a country's borders and the income received from abroad by residents, minus payments remitted abroad by nonresidents. Usually computed over a one-year period. The seven-nation organization was established in 1973, with an annual summit beginning in 1975, to attempt to coordinate its members' economic policies.
Members are Britain, Canada, France, Germany, Italy, Japan, and the United States.
The main business of the IMF is the provision of loans to its members when they experience balance of payments difficulties. These loans often carry conditions that require substantial internal economic adjustments by the recipients. Maastricht Treaty See Treaty on European Union. The communist party's system of appointing key personnel in the government and other important organizations, based on lists of critical positions and people in political favor. Also refers to the individuals included on these lists.