Group of Eight (G8)
| Section | Details |
|---|---|
| Introduction | – The Group of Eight (G8) was a political and economic forum of the world’s largest advanced economies. – Established in 1997 with the inclusion of Russia into the G7. – Aimed to discuss and coordinate on global issues such as economic policies, security, and development. – Reverted to the G7 in 2014 following Russia’s exclusion due to the annexation of Crimea. |
| Objectives | – Economic Stability: Promote macroeconomic policy coordination for global economic stability and growth. – Global Security: Address security challenges, including counter-terrorism and disarmament. – Sustainable Development: Advocate for climate action and environmental sustainability. – Human Rights and Democracy: Support human rights and democratic governance. |
| Members as of 2024 | – The G8 is inactive as of 2024, with the G7 continuing operations. – Former Members: 1. Canada 2. France 3. Germany 4. Italy 5. Japan 6. Russia (suspended in 2014) 7. United Kingdom 8. United States – Observer Member: European Union |
| Reports/Indices | – G8 Summit Declarations: Documented commitments and agreements from annual summits. – Economic Outlook Reports: Analyzed macroeconomic trends and forecasts for member states. – Climate Change Reports: Addressed environmental challenges and sustainable development goals. – Health and Development Reports: Focused on global health challenges and development policies. |
| Instruments | – Summit Declarations: Official policy statements issued at the conclusion of summits. – Joint Statements: Collaborative responses to global issues and crises. – Action Plans: Detailed strategies to implement initiatives. – Working Groups: Teams focusing on areas like energy security, health, and terrorism. |
| Structure | – Annual Summits: Leaders met annually to set policies and discuss global challenges. – Ministerial Meetings: Sector-specific ministers worked on coordinated actions. – Sherpa Meetings: Senior officials prepared summit agendas and monitored implementation of decisions. – Collaborative Frameworks: Informal structure with rotating presidency. |
| Subsidiary Organs | – G8 Africa Personal Representatives: Worked on partnerships and development programs in Africa. – Financial Action Task Force (FATF): Tackled issues like money laundering and terrorist financing. – G8 Health Experts Group: Addressed global health crises and pandemic preparedness. – G8 Energy Task Force: Focused on renewable energy and security policies. |
| Committees | – Economic Policy Committee: Coordinated on fiscal and monetary policy initiatives. – Health Committee: Addressed health-related projects, including global pandemics. – Energy Committee: Promoted energy sustainability and security. – Climate Committee: Focused on climate change action and environmental policies. |
| Initiatives | – Heavily Indebted Poor Countries (HIPC) Initiative: Aimed to reduce the debt burden on the world’s poorest nations. – Global Partnership Against WMDs: Prevented proliferation of weapons of mass destruction. – Africa Action Plan: Focused on sustainable development and poverty reduction in Africa. – Global Fund to Fight AIDS, Tuberculosis, and Malaria: Addressed major global health challenges. |
