The Group of 11: A Beacon of Hope for Developing Countries
The Group of 11 (G-11) is an ensemble of developing nations uniting with a shared vision: to ease their debt burdens and channel their resources towards economic prosperity. Established on September 20, 2006, and initially conceptualized by King Abdullah of Jordan, the G-11 predominantly consists of lower-middle-income countries.
The distinguished members of the G-11 include Croatia, Ecuador, El Salvador, Georgia, Honduras, Indonesia, Jordan, Morocco, Pakistan, Paraguay, and Sri Lanka, with El Salvador replacing Tunisia by 2007.
Understanding the Vision of the Group of 11 (G-11)
The G-11 member nations are driven by the belief that their burdensome debt impedes their development since it significantly depletes their export earnings and fiscal revenues. By advocating for debt forgiveness or conversion into economic development assistance, these nations strive for a more resource-rich economy.
Additionally, tariffs imposed by groups such as the G-7 and other developed countries pose formidable barriers to the income growth of these nations, obstructing their paths to elevated living standards and development via export-led growth. Hence, the G-11 collaborates with the Group of Seven (G-7) to negotiate for improved market access, reduced tariffs, and greater investment.
The members of the G-11 stand united in their conviction that global peace and security can be significantly enhanced when the international donor community supports their journey towards sustained economic growth.
Related Terms: Group of Seven (G-7), debt relief, economic development, tariffs, international trade.
References
- King Abdullah II of Jordan. “His Majesty King Abdullah II Opens the Group of 11/Lower-Middle Income Countries Summit”.
- King Abdullah II of Jordan. “King Urges New Development Partnership”.
- King Abdullah of Jordan II. “King Urges Developed Countries to Support Development”.
Get ready to put your knowledge to the test with this intriguing quiz!
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## What is the Group of 11 (G-11)?
- [x] A forum comprised of 11 developing countries aimed at economic cooperation
- [ ] A group of 11 industrialized nations addressing economic issues
- [ ] An alliance of 11 multinational corporations focusing on technological innovation
- [ ] A consortium of 11 global banks collaborating on international regulations
## Which of the following is NOT a member country of the G-11?
- [ ] Croatia
- [x] Canada
- [ ] Jordan
- [ ] Pakistan
## The G-11 was primarily formed to...
- [ ] Develop global defense strategies
- [ ] Promote multinational corporate interests
- [x] Enhance economic cooperation among developing countries
- [ ] Address climate change issues
## Which of the following countries was one of the founding members of the G-11?
- [x] Morocco
- [ ] Germany
- [ ] Australia
- [ ] Japan
## When was the G-11 formed?
- [ ] 1985
- [ ] 1995
- [ ] 2010
- [x] 2006
## One of the goals of the G-11 is to...
- [x] Advocate for more favorable trade terms for developing countries
- [ ] Establish a single currency for member nations
- [ ] Coordinate military defense strategies
- [ ] Regulate international banking practices
## Which organization often collaborates with the G-11 on developmental issues?
- [ ] International Monetary Fund (IMF)
- [x] World Bank
- [ ] World Trade Organization (WTO)
- [ ] United Nations Security Council (UNSC)
## Where was the inaugural G-11 summit held?
- [ ] Beijing
- [x] Amman
- [ ] New Delhi
- [ ] Nairobi
## How frequently does the G-11 typically meet?
- [ ] Monthly
- [ ] Quarterly
- [ ] Annually
- [x] Periodically, as needed
## An important focus area for G-11 meetings includes...
- [x] Debt relief and sustainable development
- [ ] Space exploration
- [ ] Cross-border digital marketing
- [ ] Advanced cybersecurity
