Group of 11 - G11
Definition of 'Group of 11 - G11'
A forum of developing (lower-middle income) countries created for the purpose of easing member countries' debt burdens so that they can instead focus financial resources on increasing internal wealth development. The G11 came into existence on September 20, 2006 and was originally conceived of by King Abdullah of Jordan.
The G11 member countries are: Croatia, Ecuador, El Salvador, Georgia, Honduras, Indonesia, Jordan, Morocco, Pakistan, Paraguay and Sri Lanka.
Investopedia explains 'Group of 11 - G11'
G11 member countries seek primarily to work with G8 member countries for increased market access, lower tariffs, investment and debt relief. G11 members believe that the international donor community can help accelerate global peace and security by helping those countries achieve sustained economic growth.