Group of 11 (G11)

What Is Group of 11?

The Group of 11 (G-11) is a group of developing countries made to facilitate members' debt weights to direct their resources to economic development. The G-11 appeared on Sept. 20, 2006, and was initially brought about by King Abdullah of Jordan. The group is basically comprised of lower-center income countries.

The G11 member countries are Croatia, Ecuador, El Salvador, Georgia, Honduras, Indonesia, Jordan, Morocco, Pakistan, Paraguay, and Sri Lanka. Originally, Tunisia was part of the original 11 yet was supplanted by El Salvador by 2007.

Understanding Group of 11 (G11)

The Group of 11 (G-11) member countries accept that their debt impedes their development in that it consumes a lot of their export earnings and fiscal incomes. They accept it is in the interest of additional developed countries that their debt is written off or potentially changed over into assistance for economic development projects.

Furthermore, tariffs forced by the G-7 and other developed countries additionally hamper the growth of national income and the improvement of living standards, which frequently seek after development through export-drove growth. The group, in this way, likewise tries to work with member countries of the Group of Seven (G-7) for increased market access, lower tariffs, and investment. G-11 members accept that the international contributor community can assist with accelerating global peace and security by helping those countries accomplish supported economic growth.