G7 summit live news: Biden says world at 'inflection point'
The G7 countries reached an agreement earlier on taking future interest from about $300bn in frozen Russian assets to provide a $50bn loan to Ukraine, a senior ...
The Group of Seven (G7) is an informal group of seven of the world's largest advanced economies: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
The G7 countries meet annually to discuss and coordinate economic policies, address global challenges, and promote international cooperation.
The G7 was originally formed in 1975 as the Group of Six, with Canada joining in 1976 to become the Group of Seven.
The G7 countries represent about 58% of the global net wealth and are responsible for about 46% of global GDP.
The G7 countries are also influential in shaping global trade policies, setting international standards, and addressing issues such as climate change, cybersecurity, and global health.
The G7 summit is the annual meeting of the leaders of the G7 countries, where they discuss and make decisions on a wide range of global issues.
The G7 countries are all members of the Organization for Economic Cooperation and Development (OECD), which promotes policies to improve the economic and social well-being of people around the world.
The G7 countries also play a significant role in international development, providing aid and assistance to developing countries and promoting sustainable development goals.
The G7 countries have a long history of close cooperation on security issues, including counterterrorism, nuclear non-proliferation, and peacekeeping efforts.
The G7 countries have faced challenges in recent years, including political tensions, economic uncertainty, and the impact of the COVID-19 pandemic, but they continue to work together to address global challenges and promote a more stable and prosperous world.