Under the UK’s Presidency of the G7, Prime Minister Boris Johnson appointed Lord Sedwill, former UK Cabinet Secretary and National Security Adviser, as Chair of an independent G7 Panel on Economic Resilience.

The Panel, appointed by and reporting directly to G7 Leaders, was tasked with developing an evidence-based understanding of the transboundary challenges to the global economic system and an assessment of the market-based policy options to strengthen global economic resilience to future shocks. The Panel engaged widely beyond the G7, supplementing its own expertise with broad engagement within and beyond G7 countries.

This evidence-gathering included extensive consultation with businesses (from multinationals to SMEs across a variety of key sectors), policy practitioners, academic researchers across a variety of disciplines, 

and key international organisations. As part of this, the OECD was commissioned by the Panel to produce a high-level analysis of economic resilience. This report — Fostering Economic Resilience in a World of Open and Integrated Markets: Risks, Vulnerabilities and Areas for Policy Action — was published on 23 March 2021 by Secretary General Ángel Gurría and Lord Sedwill in Paris.

This report was produced by the G7 Panel on Economic Resilience, drafted with support from a UK-based secretariat. The contents represent the evidence, consensus and independent recommendations of the G7 Panel on Economic Resilience and should not be taken to represent the views of the G7 Governments.