Group of Thirty

The Group of Thirty, often abbreviated to G30, is an international body of leading financiers and academics which aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sectors related to these issues. Topical areas within the interest of the group include:

• Foreign exchange, currency, etc.
• International capital markets
• International financial institutions
• Central banks and supervision of financial services and markets
• Macroeconomic issues such as product and labor markets, etc.

The group is noted for its advocacy of changes in global clearing and settlement.

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. It holds two full meetings each year and also organises seminars, symposia, and study groups. It is based in Washington, D.C.

The Group of Thirty was founded in 1978 by Geoffrey Bell at the initiative of the Rockefeller Foundation, which also provided initial funding for the body. Its first chairman was Johannes Witteveen, the former managing director of the International Monetary Fund. The G30's current Chairman is Jean-Claude Trichet. Its current Chairman of the Board of Trustees is Jacob Frenkel, and Paul Volcker is Chairman Emeritus.

The Bellagio Group, formed by Austrian economist Fritz Machlup, was the immediate predecessor to the Group of Thirty. It first met in 1963, to investigate international currency problems, particularly the balance of payments crisis which America faced throughout the early 1960s.