brummietory

Sunday, September 2, 2007

G24 Nations:
The Group of 24 (G24), a chapter of the G-77, 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, which is officially called the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development, is not an organ of the IMF, 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. China has been a "special invitee" since the Gabon meetings of 1981. Felisa Miceli, argentine Ex minister of Economy, is the current chairman of the G-24.