Group of Thirty

"G30" redirects here. For other uses, seeG30 (disambiguation).

Group of Thirty

Consultative Group on International Economic and Monetary Affairs, Inc.
Established	1978(1978)
Chair	Mark Carney
Executive Director	Stuart P. M. Mackintosh
Staff	4
Budget	$448k (FY07)
Members	30
Address	1701 K Street, NW, Suite 950 Washington, DC 20006 USA
Location	Washington, D.C.
Website	group30.org

TheGroup of Thirty,often abbreviated toG30,is an international body offinanciersandacademicswhich aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sectors. Areas within the interest of the group include: theforeign exchange market,internationalcapital markets,internationalfinancial institutions,central banksand their supervision of financial services and markets, andmacroeconomicissues such as product and labor markets.

The group is noted for its advocacy of changes in globalclearingandsettlement.

History

The Group of Thirty was founded in 1978 byGeoffrey Bellat the initiative of theRockefeller Foundation,which also provided initial funding for the body. Its first chairman wasJohannes Witteveen,the former managing director of theInternational Monetary Fund.The G30's current chairman isMark Carney.Its current chairman of the board of trustees isTharman Shanmugaratnam,andJacob Frenkelis chairman emeritus.

TheBellagio Group,formed by Austrian economistFritz Machlup,was the immediate predecessor to the Group of Thirty.It first met in 1963, at the Rockefeller Foundation Center (Villa Serbelloni) in Bellagio,to investigate international currency problems, particularly thebalance of payments crisiswhich America faced throughout the early 1960s.

In June 2011, the group released a report that examines the 2008 financial crisis, including the causes, the responses and the future outlook for the United States and other markets.

In January 2018, the European OmbudsmanEmily O'Reillyrequested that ECB PresidentMario Draghiresign from the group because his membership in the organization could be interpreted as undue influence.

Members

The group consists of thirty members and includes the heads of major private banks and central banks, as well as members from academia and international institutions. Current members of the group include current and former heads of the central banks ofArgentina,Australia,Brazil,Canada,China,France,Germany,India,Israel,Italy,Japan,Mexico,Nigeria,Poland,Singapore,Spain,Switzerland,theUnited Kingdom,and theUnited Statesas well as two presidents of theFederal Reserve Bank of New York,two presidents of theEuropean Central Bank,a chairman of theBasel Committee on Banking Supervision,two chairmen of theBank for International Settlements,two chief economists of theInternational Monetary Fund,a chief economist of theWorld Bank,and the former president of Mexico. It holds two full meetings each year and also organises seminars, symposia, and study groups. It is based inWashington, D.C.