The Group of Seven (G7) is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Its members are the world's largest IMF advanced economies and wealthiest liberal democracies; the group is officially organized around shared values of pluralism and representative government. As of 2020, the collective group accounts for a little over 50 percent of global net wealth, 32 to 46 percent of global gross domestic product, and about 770 million people or 10 percent of the world's population. Most members are great powers in global affairs and maintain mutually close political, economic, social, legal, environmental, military, religious, cultural, and diplomatic relations. Since the start of 2022, Germany has taken over the presidency of the G7.