Group of 24
The Group of 24 (G-24) is a chapter of the G-77 that was established in 1971 to coordinate the positions of developing countries on international monetary and development finance issues and to ensure that their interests were adequately represented in negotiations on international monetary matters.
The Group of 24, which is officially called the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development, is not an organ of the International Monetary Fund, but the IMF provides secretariat services for the Group. Its meetings usually take place twice a year, prior to the IMFC and Development Committee meetings, to enable developing country members to discuss agenda items beforehand.
Although membership in the G-24 is strictly limited to 24 countries, any member of the G-77 can join discussions (Mexico is the only G-24 member that is not a G-77 member, when it left the G-77 without resigning its G-24 membership). China has been a "special invitee" since the Gabon meetings of 1981. Miguel Gustavo Peirano, former Argentine Minister of Economy, is the current chairman of the G-24.
Read more about this topic: Group Of 77
Famous quotes containing the words group of and/or group:
“A little group of wilful men reflecting no opinion but their own have rendered the great Government of the United States helpless and contemptible.”
—Woodrow Wilson (1856–1924)
“There is nothing in the world that I loathe more than group activity, that communal bath where the hairy and slippery mix in a multiplication of mediocrity.”
—Vladimir Nabokov (1899–1977)