Group of Ten

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The ten prosperous industrial nations that agreed in 1962 to lend money to the International Monetary Fund (IMF). They are Belgium, Canada, France, Italy, Japan, The Netherlands, Sweden, Germany, UK, and the USA. They inaugurated Special Drawing Rights. Switzerland, although not a member of the IMF, is a party to the general arrangements to borrow, which the G10 countries established to provide additional credit facilities. Luxembourg is also an associate member.

Subjects: Financial Institutions and Services.

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