The G7 is a summit that brings together the top leaders of the seven most developed economies in the world. In other words, the countries with the highest net national wealth.
It was born with the objective of making easier the execution of the macroeconomic policies shared by the members after the collapse of the fixed exchange rate regime (1971).
The primary feature of the G7 is the ease and speed with which participants have in the past been able to strike multilateral agreements on issues of global significance.
The Member States are: United States, Italy, Japan, France, United Kingdom, Canada and Germany.
The Presidency of the G7 rotates from year to year and is therefore alternate. In 2017 it was Italy’s turn, in 2018 Canada and in 2019 France.
In recent years all meetings have continued to take place in the G7 "format" at a time when Russia, after the suspension linked to the Crimean War, decided it no longer wanted to rejoin the G8.
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