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Definition: G7 Group of Seven
The G7 or “Group of seven” is the economic alliance of the seven major economic powers in terms of industrialisation and development namely, Canada, Italy, France, the United Kingdom, the United States of America, Germany and Japan.
The finance ministers of these major economies meet every year since 1986 to discuss on relevant issues and also coordinate economic and monetary policies. Their most recent meeting took place in May’13 in the United Kingdom.
Formed as Group of Six in 1975 and joined by Canada the following year, the G7 nations are the wealthiest on the planet (223 trillion), not by GDP but by global net wealth.
A G-7 bond is a product of the G7 countries. It is a government bond which is considered to be relatively less risky owing to the economic stability, industrialisation and development of the participating countries. G-7 bonds can be purchased on an individual bond basis, or as groups of bonds or “bond fund”.