What is the difference between G10 and G20?
The G-10 is a small, primarily Western group focused on monetary policy and IMF governance, while the G-20 is a larger, global forum for macroeconomic policy coordination that includes both advanced and emerging economies.
Here’s how the two groups differ in structure, membership, and purpose, and why those differences matter for global economic policy and financial stability today.
Origins and purpose
The Group of Ten (G-10) emerged in the 1960s as a compact forum for a set of major economies to discuss monetary issues and international financial arrangements tied to IMF governance. By design, it focuses on technical and policy matters related to currency stability, capital flows, and IMF terms.
Membership and focus
The following countries constitute the G-10’s national members. Note that the European Union participates in G-10 discussions in IMF matters but is not counted among these national members.
- Belgium
- Canada
- France
- Germany
- Italy
- Japan
- Netherlands
- Sweden
- Switzerland
- United Kingdom
- United States
Conclusion: The G-10 comprises 11 national economies in practice, with the European Union represented in discussions but not counted as a separate national member.
Origins and scope
The Group of Twenty (G-20) was formed in 1999 as a broader forum for macroeconomic policy coordination among both advanced and emerging economies. It expanded to include leader-level summits in 2008, signaling a more expansive agenda that goes well beyond monetary issues into growth, trade, development, and financial stability.
Membership and scope
The following list enumerates its member states. The European Union participates in G-20 discussions as a single entity.
- Argentina
- Australia
- Brazil
- Canada
- China
- France
- Germany
- India
- Indonesia
- Italy
- Japan
- Mexico
- Russia
- Saudi Arabia
- South Africa
- South Korea
- Turkey
- United Kingdom
- United States
Conclusion: The G-20 encompasses 19 countries plus the European Union, representing the bulk of global GDP and population, and addresses a broad set of economic, financial, and even climate-related issues.
Key differences at a glance
Two core distinctions shape how each group operates. The G-10 is a small, IMF-focused forum dedicated to monetary policy and financial arrangements among a limited set of advanced economies. The G-20 is a large, policy-oriented platform spanning both advanced and emerging economies to coordinate broad macroeconomic policy, growth, trade, and stability on a global scale.
Summary
The G-10 and G-20 serve different roles in international economic diplomacy. The G-10 provides a tight, technically focused venue for monetary policy and IMF governance among a fixed set of advanced economies, with the EU participating in discussions. The G-20 offers a comprehensive forum for global macroeconomic coordination, reflecting the interests of both developed and emerging markets, and it functions as a key mechanism for addressing wide-ranging economic challenges facing the world today.
What is the difference between G20 and G10 countries?
The main difference is that the G10 is a group of industrialized nations focused on international financial stability, while the G20 is a much broader forum including both advanced and emerging economies that discusses a wider range of global economic, political, and social issues. G10 focuses primarily on monetary and financial stability, whereas the G20 was created to strengthen global economic coordination by including key emerging markets.
G10
- Focus: Primarily on international monetary and financial stability.
- Membership: Based on a 1962 agreement for the General Arrangements to Borrow (GAB), it includes 11 countries: Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, the United Kingdom, and the United States.
- Purpose: To provide a forum for cooperation among leading industrial nations on financial and economic policies, though its membership does not perfectly align with the G10 currencies.
- Limitations: Has been criticized for not representing the modern global economy, as it excludes many emerging economies.
G20
- Focus: A broader range of global economic issues, beyond just finance, including climate change, development, and trade.
- Membership: Comprises 19 individual countries plus the European Union, representing both developed and emerging economies.
- Purpose: To provide a more comprehensive global economic dialogue and strengthen policy coordination between major advanced and developing economies.
- Members include: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States.
What is the G20 explained?
The G20 is an international forum for economic cooperation that includes 19 countries and two regional organizations (the European Union and the African Union). It was created in 1999 to discuss major global economic issues but has since expanded to address topics like trade, climate change, and development. Summits are held annually, with the presidency rotating among members, to coordinate policy and address shared challenges.
You can watch this video to learn about the G20's role in the global economy and the 2025 summit: 1mThe Financial ExpressYouTube · Nov 21, 2025
What is the G20?
- Purpose: Provides a forum for dialogue between industrialized and developing countries on strategic economic and financial issues.
- Evolution: Started in 1999 as a response to the financial crises of the late 1990s and expanded on the work of the G7.
- Membership: Consists of 19 countries and two regional organizations:
- 19 Countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, and United States.
- 2 Regional Organizations: European Union and African Union.
This video explains how the G20 was formed and its expanded scope: 46sINSIGHTS IASYouTube · Nov 22, 2025
What happens at the G20?
- Annual Summit: The highest-level event is an annual summit where leaders from member countries and organizations meet.
- Finance Track: Finance ministers and central bank governors meet to discuss macroeconomic issues.
- Sherpa Track: "Sherpas," or personal emissaries of the leaders, meet throughout the year to negotiate issues and prepare for the summit.
- Declarations: The summit concludes with a "Leaders' Declaration" that outlines the agreements and commitments made.
- Bilateral Meetings: Summits provide a venue for leaders to hold separate bilateral meetings, which can be a significant part of the diplomatic activity.
What does it discuss?
- Economic Issues: Originally focused on major global economic issues.
- Expanded Agenda: The agenda has broadened to include trade, climate change, sustainable development, health, and anti-corruption.
- Current Priorities: Recent agendas have focused on issues like debt sustainability for low-income countries, financing the transition to clean energy, and strengthening resilience to disasters.
This video discusses the G20's current priorities and future goals: 1mSABC NewsYouTube · Nov 23, 2025
Is the US a G20 country?
As of 2023, there are 21 members in the group: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, the European Union and the African Union.
What is G10 or G20?
Unlike the broader G20 which addresses climate change, trade, and development, the G10 focuses specifically on international monetary stability and fostering cooperation among member nations' central banks and finance ministries.
