# Group of Ten (G10): Definition, Purpose, and Member Countries

![Young man sitting before a computer monitor showing a map of the world](https://www.investopedia.com/thmb/OwgL1I5y9uTqomXl5PeIWXSdW0s=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1323108614-b7d0dbc65ce144baa06cbfb662ba8363.jpg)

*— Laurence Dutton / Getty images*

## What Is the Group of Ten (G10)?

The Group of Ten (G10) consists of 11 industrialized nations that meet on an annual basis or more to consult, debate, and cooperate on international finance. The member countries are Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United Kingdom, and the United States. The G10 is one of five similar groups, not to be confused with the Group of 7, 8, 20, or 24. Each of these consists of a group with similar economic interests.

### Key Takeaways

*   The Group of Ten (G10) is a group of 11 industrialized nations that have similar economic interests.
*   The group meets at least annually to discuss, debate, and cooperate on financial matters that concern the member nations.
*   The G10 is one of five similar groups, comprised of a variety of nations; the other groups are the G7, G8, G20, and G24.

## Understanding the Group of Ten (G10)

As noted above, the G10 is a group of 11 industrialized countries that meet each year to discuss financial matters important to the global community. Finance ministers and central bank governors from each of the 11 countries gather in connection with annual meetings of the [International Monetary Fund (IMF)](https://www.investopedia.com/terms/i/imf.asp) and the [World Bank](https://www.investopedia.com/terms/w/worldbank.asp) to discuss financial and monetary policies that impact member countries, trade, and the global economy.

The [Bank for International Settlements (BIS)](https://www.investopedia.com/terms/b/bis.asp) is an international finance organization owned and operated by over 60 member central banks that together comprise over 95% of the world's GDP. Its mission is to serve central banks in their pursuit of monetary and financial stability, to foster cooperation among the banks, and to serve as the central bank for them.

The main goal of the G10 is to coordinate [fiscal and monetary policies](https://www.investopedia.com/articles/investing/050615/fiscal-vs-monetary-policy-pros-cons.asp) among its 11 members and with other international financial institutions, mainly the IMF. These economic policies relate to exchange rates, monetary frameworks, and financial regulations.

By promoting cooperation among leading economies, taking measures to address emerging risks, mitigating financial crises, and monitoring economic trends, the G10 ultimately pursues global financial stability and a stronger worldwide financial environment.  

## History of the Group of Ten (G10)

The G10 was established when the 10 wealthiest IMF member countries agreed to participate in the [General Agreements to Borrow (GAB)](https://www.investopedia.com/terms/g/general-agreements-to-borrow.asp), a now-terminated lending medium for the participating countries.

The GAB was formed 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 Germany and Sweden, agreed to make resources available to the IMF. These resources were for drawings by both IMF participants and, under some circumstances, non-participants.

Switzerland signed the GAB in 1964, despite not being a member of the IMF at the time, thereby strengthening the agreement.

It was at a G10 Forum in 1971 where members worked to create [The Smithsonian Agreement](https://www.investopedia.com/terms/s/smithsonian-agreement.asp) following the collapse of the [Bretton Woods](https://www.investopedia.com/terms/b/brettonwoodsagreement.asp) System. This new system replaced the fixed exchange rate system with a floating exchange rate one.  

## Who Are the G10 Official Observers?

The following international organizations function as official observers of the meetings and activities of the G10:

*   The Bank for International Settlements (BIS)
*   The European Commission
*   The International Monetary Fund (IMF)
*   The [Organisation for Economic Co-operation and Development](https://www.investopedia.com/terms/o/oecd.asp)

These observer organizations do not vote or set G10 policies but closely monitor discussions to stay aligned, provide input when invited, and coordinate global financial governance alongside the G10.

## Resolutions and Outcomes of the G10

The G10’s meetings and activities have led to positive outcomes with an impact on the global financial landscape:

*   **Global trade assistance:** The members of the G10 have facilitated trade agreements between countries, with a positive impact on the health of the global economy.
*   **Increased lending power:** The members of the G10 have generated loans through the NAB, facilitating lending opportunities that strengthen the global economy.  
    
*   **Resolution of financial problems:** The members of the G10 discuss financial challenges in times of economic stress, promoting collaboration to resolve financial crises.

## Group of Ten (G10) vs. Other Groups

The G10 is just one of the international groups that meet regularly to discuss global issues. The most common are the Group of Seven (G7) and the Group of Twenty (G20).

### Group of Seven (G7)

The Group of Seven (G7) is made up of the world's largest and most [developed economies](https://www.investopedia.com/terms/d/developed-economy.asp). They include Canada, France, Germany, Italy, Japan, the United Kingdom, and the U.S. The group, which was established in the 1970s, was originally called the Group of Eight (G8) until Russia was removed following the invasion of Ukraine.

Rather than central bank governors, government leaders of the G7 meet regularly in one of the seven countries to discuss issues relating to the economy and finance. These countries may also discuss issues of other importance, including geopolitical issues and helping [developing nations](https://www.investopedia.com/terms/t/third-world.asp).

The group isn't a formal body. As such, the policies and resolutions it may come up with are recommended and cannot be enforced.  

### Group of Twenty (G20)

The Group of Twenty (G20) is composed of 19 member countries plus the European Union; included countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the U.S. Spain is a permanent guest of the group.

The G20 meets annually. While the meetings focus primarily on macroeconomic issues, other issues are also discussed. These include health, agriculture, climate change, and anti-corruption, among others.

## Why Does the G10 Have 11 Countries?

Switzerland joined the G10 in 1964 expanding the group's membership to 11.

## Which Countries Form the Group of Seven?

The Group of Seven or G7 comprises seven of the world's advanced economies, including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, as well as the European Union.

## When and Where Will the G20 Summit 2025 Take Place?

The G20 Leaders' Summit 2025 will take place in November in Johannesburg, South Africa. Leaders from all 19 member countries, along with the African Union and the European Union, are expected to attend.

## The Bottom Line

The Group of Ten is a coalition of 11 countries that work together to shape international finance by coordinating fiscal and monetary policies to promote financial stability. The G10 meets annually at a minimum and tackles topics such as emerging risks, trade agreements, and financial crises.  

> **Article Sources**
>
> 1.  International Money Fund. "[A Guide to Committees, Groups, and Clubs](https://www.imf.org/en/About/Factsheets/A-Guide-to-Committees-Groups-and-Clubs#G10)."
>     
> 2.  Bank for International Settlements. "[About BIS - Overview](https://www.bis.org/about/index.htm)."
>     
> 3.  International Monetary Fund. "[A Guide to Committees, Groups, and Clubs](https://www.imf.org/en/About/Factsheets/A-Guide-to-Committees-Groups-and-Clubs)."
>     
> 4.  Bank for International Settlements. "[Group of Ten - Financial Stability in Emerging Market Economies](https://www.bis.org/publ/gten02.htm)."
>     
> 5.  Federal Reserve History. "[The Smithsonian Agreement](https://www.federalreservehistory.org/essays/smithsonian-agreement)."
>     
> 6.  MasterClass. "[G10 Definition: The G10 Countries and Monetary Agreements](https://www.masterclass.com/articles/g10#fUC4atei9Muzmi2SkUw4u)."
>     
> 7.  Council On Foreign Relations. "[Where Is The G7 Headed?](https://www.cfr.org/backgrounder/where-g7-headed)"
>     
> 8.  Government of Canada; 2025 G7 Presidency. "[About the G7](https://g7.canada.ca/en/g7-information/about/)."
>     
> 9.  European Commission. "[Agriculture and Rural Development: G20](https://agriculture.ec.europa.eu/international/international-cooperation/international-organisations/g20_en)."
>     
> 10.  G20 South Africa 2025. "[Engagement Groups](https://g20.org/engagement-groups-2/)."
>      
> 11.  G20 South Africa 2025. "[FAQs](https://g20.org/resources/faqs/)."
>      
> 12.  G20 South Africa 2025. "[Overview](https://g20.org/about-g20/overview/)."