ECONOMIC AND SOCIAL SECURITY: MACROECONOMIC AND FINANCIAL POLICY //
G7 PERFORMANCE ON MACROECONOMIC POLICY, 1975–2024
100
100
75
75
50
50
25
25
0
0
Compliance (%)
Conclusions (% words)
Commitments (%)
Compliance (%)
Conclusions (% words)
Commitments (%)
“As the 2025 G7 host, Canada has identified ‘building stable and inclusive economies that benefit everyone’ as a priority”
Union, France and the United Kingdom each have 87%, and Germany has 84%. Japan’s compliance is 79%. Italy ranks last with 71%. RECOMMENDATIONS As the 2025 G7 host, Canada has identified “building stable and inclusive economies that benefit everyone” as a priority. To improve the G7’s record of macroeconomic compliance, the Kananaskis Summit should introduce concrete references to ministerial mechanisms and the private sector to anchor the G7’s commitments.
Previous trends suggest that references to business stakeholders correlate with higher compliance, as the two assessed macroeconomic commitments with such references averaged 97% compliance. An increased number of meetings of finance ministers and central bank governors – designed with a specific focus on macroeconomic stability and a remit mandate to report back to G7 leaders – also helps, especially in light of slowing growth and increasing inflation rates among G7 economies.
// ANGELA MINYI HOU Angela Minyi Hou is a senior researcher with the G7 and G20 Research Groups, and former co-chair of the BRICS Research Group. She holds a master’s degree in international affairs from the Graduate Institute of International and Development Studies in Geneva, with specialisations in trade and environment. The views in this publication are her personal opinions.
X-TWITTER @g7_rg www.g7.utoronto.ca
35 globalgovernanceproject.org
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