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Gross domestic product
The value of goods and services produced in a country in a given year. It does not include net income earned outside the country.
Glossary
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Gross national product
(GNP) The value of goods and services produced internally in a given country during a stated year plus the value resulting from transactions abroad.
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Ground water
The water is held under the earth’s surface, often in and around the pores of rock.
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Group of 10
The Group of 10 (G-10) includes the IMF’s wealthiest members who provide most of the money to be loaned and act as the informal steering committee.
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Group of 11
The Group of 11 (G-11) was established in 2006 to narrow the income gap with the world’s richest nations.
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Group of 15
The Group of 15 (G-15) was established in September 1989 to promote economic cooperation among developing nations and to act as the main political organ for the Nonaligned Movement.
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Group of 20
The Group of 20 (G-20) was established in 1999 to promote open and constructive discussion between industrial and emerging-market countries on any issues related to global economic stability.
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Group of 24
The Group of 24 (G-24) was established on 1 August 1989 to promote developing countries in Africa, Asia, and Latin America within the IMF.
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Group of 3
The Group of 3 (G-3) was established in September 1990 to support a mechanism for policy coordination.
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Group of 5
The Group of 5 (G-5) (with Italy, Canada, and Russia) is now known as the Group of 8 or G-8.
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Group of 6
The Group of 6 (G-6) was established in 1984 to achieve nuclear disarmament.
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Group of 7
The Group of 7 (G-7) (membership is the same as the Big Seven) was established in 1985 to facilitate economic cooperation among the seven major noncommunist economic powers.
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Group of 77
The Group of 77 (G-77) was established in 1964 to promote economic cooperation among developing countries. Its name persists in spite of increased membership.
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Group of 8
The Group of 8 (G-8) was established in October 1975 to facilitate economic cooperation among the developed countries (DCs) that participated in the Conference on International Economic Cooperation (CIEC).
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Group of 9
The Group of 9 (G-9) was formed to discuss mutual interest matters on an informal basis.
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Growth pole
A new city, a resource, or some development in a heretofore undersettled area that begins to attract population growth and economic development.