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Group of 10 (G-10)

The Group of 10 (G-10) is an informal group of finance ministers and central bank governors from 10 major economies. The G-10 was established in 1962 as a forum for cooperation on international monetary and financial issues. The members of the G-10 are:

The G-10 meets regularly to discuss a wide range of issues, including the global economy, financial stability, and international trade. The G-10 also plays a role in the management of the International Monetary Fund (IMF) and the World Bank.

The G-10 is not a formal organization, and it does not have any legal authority. However, the G-10 is an important forum for cooperation on international monetary and financial issues. The G-10's meetings provide an opportunity for the world's major economies to discuss their common challenges and to develop coordinated solutions.

The G-10 has played a key role in the development of the international monetary system. In 1971, the G-10 agreed to the Smithsonian Agreement, which devalued the U.S. dollar and created a new system of fixed exchange rates. In 1973, the G-10 agreed to the collapse of the Bretton Woods system and the move to a system of floating exchange rates.

The G-10 has also played a role in the management of financial crises. In 1997, the G-10 provided financial assistance to Thailand and Indonesia during the Asian financial crisis. In 2008, the G-10 provided financial assistance to Iceland during the global financial crisis.

The G-10 is an important forum for cooperation on international monetary and financial issues. The G-10's meetings provide an opportunity for the world's major economies to discuss their common challenges and to develop coordinated solutions. The G-10 has played a key role in the development of the international monetary system and in the management of financial crises.