Group of Twelve

The Group of Twelve is a group of industrially advanced countries whose central banks cooperate to regulate and manage international finance. It grew out of the ten original members of the International Monetary Fund General Arrangements to Borrow, established in 1962, with Australia and Spain added later and Switzerland joining in 1984. Despite its name, it now has thirteen members: Australia, Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Spain, Sweden, Switzerland, the United Kingdom and the United States.