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Group of Seven (G7) , Current Affairs,Economics,IR

The Group of Seven (G7) is an intergovernmental organization consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The heads of government of the member states, as well as the representatives of the European Union, meet at the annual G7 Summit.
➖As of 2018, the G7 represents 58% of the global net wealth ($317 trillion), more than 46% of the global gross domestic product (GDP) based on nominal values, and more than 32% of the global GDP based on purchasing power parity. The seven countries involved are also the largest IMF-advanced economies in the world.
➖The annual G7 leaders’ summit is attended by the heads of government. The member country holding the G7 presidency is responsible for organizing and hosting the year’s summit. The serial annual summits can be parsed chronologically in arguably distinct ways, including as the sequence of host countries for the summits has recurred over time and series. Generally every country hosts the summit once every 7 years.
➖Since 1975, the group meets annually on summit site to discuss economic policies[citation needed]; since 1987, the G7 Finance Ministers have met at least semi-annually, up to four times a year at stand-alone meetings.

?About Member Countries?
??Prime Minister: Justin Trudeau

??President: Emmanuel Macron

??Chancellor: Angela Merkel

??Prime Minister: Mario Draghi

??Prime Minister: Yoshihide Suga

➖United Kingdom
??Prime Minister: Boris Johnson

➖United States
??President-elect Joe Biden

?List of summits Host Country?

➖1st summit was held in France (G6 Summit)
➖2nd summit was held in 1976 (Also called “Rambouillet II”. Canada joined the group, forming the G7)
➖2019 summit (46th) was to be held at US but that meeting was officially cancelled on March 19, 2020 due to the concerns over the worldwide coronavirus pandemic and was replaced by a global videoconference.
➖47th summit (2021) is scheduled to held on 11-13 June 2021 in United Kingdom.
➖48th summit (2022) is scheduled to held in Germany.
➖49th summit (2023) is scheduled to held in Japan.
➖50th summit (2024) is scheduled to held in Italy.

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