Which of the following is NOT an economic grouping formed by different nations to strengthen their economies?

Correct option is D

​The correct answer is (d) L8.

Explanation:

• The term "L8" does not correspond to any known economic grouping formed by nations to strengthen their economies. It appears to be a misnomer or a fictitious entity.
• In contrast, the other options—G20, SAARC, and G7—are well-established international organizations aimed at fostering economic cooperation among member countries.

Information Booster:

1. G20 (Group of Twenty):

• Formation: Established in 1999 in response to financial crises in the late 1990s.
• Members: 19 countries and the European Union, representing major advanced and emerging economies.
• Objective: To discuss policy pertaining to the promotion of international financial stability.

2. SAARC (South Asian Association for Regional Cooperation):

• Formation: Founded in 1985.
• Members: Eight South Asian countries—Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.
• Objective: To promote regional integration and economic cooperation in South Asia.

3. G7 (Group of Seven):

• Formation: Originated in 1975.
• Members: United States, United Kingdom, France, Germany, Italy, Canada, and Japan.
• Objective: To discuss and coordinate economic policies among the world's largest advanced economies.