CURRENT AFFAIRS

Detailed explanation-1: -The G7 is an informal grouping of seven of the world’s advanced economies, including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, as well as the European Union.

Detailed explanation-2: -The Group of Eight (G8) was an inter-governmental political forum from 1997 until 2014. It had formed from incorporating Russia into the Group of Seven, or G7, and returned to its previous name after Russia was expelled in 2014.

Detailed explanation-3: -The idea for the first meeting was the initiative of French President Valéry Giscard d’Estaing and Chancellor Helmut Schmidt. In 1975 they instigated the first summit meeting at the Chateau de Rambouillet, 50 kilometres south-west of Paris.

Detailed explanation-4: -Germany has been hosting the G7 Summit. It has held the G7 Presidency since January 2022. Federal Chancellor Olaf Scholz has invited the heads of state and government to Schloss Elmau in Upper Bavaria. Find out more about the work of the Federal Government here.