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The Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development, or The Group of 24 (G-24) was established in 1971 as a chapter of the Group of 77 in order to help coordinate the positions of developing countries on international monetary and development finance issues, as well as and to ensure that their interests are adequately represented in negotiations on international monetary matters. Though originally named after the number of founding Member States, it now has 28 Members (plus China, which acts as a Special Invitee).[1] Although the G-24 officially has 28 member countries, any member of the G-77 can join discussions.
Although the group is not an organ of the International Monetary Fund, the IMF provides secretariat services for the Group. It meets biannually, first prior to the International Monetary and Financial Committee, and secondly prior to the Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund. These meetings allow developing country members to discuss agenda items prior to these important meetings of the IMF/World Bank.
The political level, consisting of Ministers, their Deputies, the Bureau, and other Washington-based representatives who participate in the Committee of the Whole and in any ad hoc meetings; and
The operational level, which is run by the G-24 Liaison Office, and includes the G-24 Secretariat and the Research Coordinator.
The governing body of the G-24 meets twice a year, preceding the Spring and Fall meetings of the International Monetary and Financial Committee and the Joint Development Committee of the World Bank and the International Monetary Fund. The plenary G-24 meetings are addressed by the heads of the IMF and the World Bank Group as well as by senior officials of the UN system. Issues are first discussed by the Deputies and culminate at the Ministerial level by the approval of a document that sets out the consensus views of member countries. The Ministerial document is released as a public Communiqué at a press conference held at the end of the meetings. Decision-making within the G-24 is by consensus.
Leadershipedit
Political leadershipedit
The following compose the political leadership of the Group:[3]
Chair: Adama Coulibaly, Minister of Finance, Côte d'Ivoire
Second Vice-Chair: Sergio Massa, Minister of Treasury, Argentina
Secretariatedit
The G-24 Secretariat is a permanent body that serves as the administrative organ of the G-24.[4] It is based in Washington D.C. in the IMF Headquarters. The functions and activities of the Secretariat include: ensuring effective liaison among G-24 members with a view of facilitating consensus on issues of common interest; overseeing and implementing the work program; building strategic partnerships and coalitions with other fora engaged in the same spheres of interest; and supporting the Chair and the Bureau by providing logistical and secretarial support for the various meetings of the G-24.
Until 1997, the Research Program of the Group was the operational organ for the coordination of members' policy positions. The program was headed by a Research Coordinator that directs the policy outputs of the organization. Past research coordinators include Sidney S. Dell (British), 1975-1990; Gary Helleiner (Canada), 1990-1997. With the formalization of the establishment of the Secretariat in 1997 and absorption of the Research program into the Secretariat function, subsequent research coordinators included the Turkish economist Dani Rodrik (2002) and Malaysian economist Jomo Sundaram (2006–2012).
The Secretariat is headed by a Director, who, since 1997, also manages the G-24’s Research Program.
The Group also maintains a research and work program that revolves around issues of importance to developing countries. In particular, the program focuses on three key areas: The global economy and growth agenda, international financial architecture, and financing for development. The global economy and growth agenda emphasizes structural transformation, trade and technology, and inequality. international financial architecture covers reform and governance of global financial institutions, the global financial safety net and managing capital flows, and financial regulation. financing for development includes taxation and international tax cooperation, infrastructure financing, debt management and sustainability, and financial inclusion. Much of the group's research, including books, policy briefs and working papers can be found on its website.[5]
Referencesedit
^ ab"Members". Intergovernmental Group of 24. Intergovernmental Group of 24. n.d. Retrieved 19 February 2019.
^ ab"Observers". Intergovernmental Group of 24. Intergovernmental Group of 24. n.d. Retrieved 19 February 2019.
^"Organizational Structure and Governance | G-24". G-24. Retrieved 2018-10-02.
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Official site
January 01, 1970
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This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article relies largely or entirely on a single source Relevant discussion may be found on the talk page Please help improve this article by introducing citations to additional sources Find sources Group of 24 news newspapers books scholar JSTOR February 2016 This article relies excessively on references to primary sources Please improve this article by adding secondary or tertiary sources Find sources Group of 24 news newspapers books scholar JSTOR September 2023 Learn how and when to remove this template message Learn how and when to remove this template message The Intergovernmental Group of Twenty Four on International Monetary Affairs and Development or The Group of 24 G 24 was established in 1971 as a chapter of the Group of 77 in order to help coordinate the positions of developing countries on international monetary and development finance issues as well as and to ensure that their interests are adequately represented in negotiations on international monetary matters Though originally named after the number of founding Member States it now has 28 Members plus China which acts as a Special Invitee 1 Although the G 24 officially has 28 member countries any member of the G 77 can join discussions Intergovernmental Group of Twenty FourMembers of the Group of 24 as of 2019AbbreviationG 24Named afterNumber of founding Member StatesFormation1971 53 years ago 1971 FounderGroup of 77Founded atLima PeruTypeIntergovernmental trade blocPurposeTo aid in the coordination of the positions of developing countries on monetary and development issuesHeadquartersWashington D C United StatesMethodsCollective bargaining lobbying reports and studiesFieldsInternational tradeMembership 2019 29 Member StatesChair of the G 24Adama Coulibaly Adama Coulibaly in French Parent organizationGroup of 77AffiliationsUnited NationsWebsitewww g24 org Although the group is not an organ of the International Monetary Fund the IMF provides secretariat services for the Group It meets biannually first prior to the International Monetary and Financial Committee and secondly prior to the Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund These meetings allow developing country members to discuss agenda items prior to these important meetings of the IMF World Bank Contents 1 Member states 1 1 Observers 2 Organization 3 Leadership 3 1 Political leadership 3 2 Secretariat 3 3 Chair 4 Research and publications 5 References 6 External linksMember states editFollowing is the list of members of G 24 1 Region I Africa nbsp Algeria nbsp DR Congo nbsp Egypt nbsp Ethiopia nbsp Gabon nbsp Ghana nbsp Ivory Coast nbsp Kenya nbsp Morocco nbsp Nigeria nbsp South Africa Region II Latin America and the Caribbean nbsp Argentina nbsp Brazil nbsp Colombia nbsp Ecuador nbsp Guatemala nbsp Haiti nbsp Mexico nbsp Peru nbsp Trinidad and Tobago nbsp Venezuela Region III Asia nbsp China nbsp India nbsp Iran nbsp Lebanon nbsp Pakistan nbsp Philippines nbsp Sri Lanka nbsp Syria Observers edit The following act as observers states of the G 24 2 nbsp Angola nbsp Indonesia nbsp Saudi Arabia nbsp United Arab Emirates The following act as institutional observers of the G 24 2 Arab Monetary Fund Economic Commission for Latin America and the Caribbean Group of 77 International Labour Organization Islamic Development Bank OPEC Fund for International Development Organization of the Petroleum Exporting Countries South Centre United Nations Conference on Trade and Development United Nations Department of Economic and Social Affairs Central American Monetary CouncilOrganization editThe G 24 operates at two levels The political level consisting of Ministers their Deputies the Bureau and other Washington based representatives who participate in the Committee of the Whole and in any ad hoc meetings and The operational level which is run by the G 24 Liaison Office and includes the G 24 Secretariat and the Research Coordinator The governing body of the G 24 meets twice a year preceding the Spring and Fall meetings of the International Monetary and Financial Committee and the Joint Development Committee of the World Bank and the International Monetary Fund The plenary G 24 meetings are addressed by the heads of the IMF and the World Bank Group as well as by senior officials of the UN system Issues are first discussed by the Deputies and culminate at the Ministerial level by the approval of a document that sets out the consensus views of member countries The Ministerial document is released as a public Communique at a press conference held at the end of the meetings Decision making within the G 24 is by consensus Leadership editPolitical leadership edit The following compose the political leadership of the Group 3 Chair Adama Coulibaly Minister of Finance Cote d Ivoire First Vice Chair Benjamin E Diokno Secretary of Finance Philippines Second Vice Chair Sergio Massa Minister of Treasury Argentina Secretariat edit The G 24 Secretariat is a permanent body that serves as the administrative organ of the G 24 4 It is based in Washington D C in the IMF Headquarters The functions and activities of the Secretariat include ensuring effective liaison among G 24 members with a view of facilitating consensus on issues of common interest overseeing and implementing the work program building strategic partnerships and coalitions with other fora engaged in the same spheres of interest and supporting the Chair and the Bureau by providing logistical and secretarial support for the various meetings of the G 24 Until 1997 the Research Program of the Group was the operational organ for the coordination of members policy positions The program was headed by a Research Coordinator that directs the policy outputs of the organization Past research coordinators include Sidney S Dell British 1975 1990 Gary Helleiner Canada 1990 1997 With the formalization of the establishment of the Secretariat in 1997 and absorption of the Research program into the Secretariat function subsequent research coordinators included the Turkish economist Dani Rodrik 2002 and Malaysian economist Jomo Sundaram 2006 2012 The Secretariat is headed by a Director who since 1997 also manages the G 24 s Research Program Current and past Directors are Year Name Country 1997 Aziz Ali Mohammed 2000 2002 William Larralde nbsp Venezuela 2002 2007 Ariel Buira nbsp Mexico 2007 2014 Amar Bhattacharya 2014 2023 Marilou Uy nbsp Philippines 2023 present Iyabo Masha nbsp Nigeria Chair edit The following is the list of former and current Chairs of the G 24 Year Chair 2005 nbsp Gabon 2006 nbsp Philippines 2007 nbsp Argentina 2008 nbsp Democratic Republic of Congo 2009 nbsp Syria 2010 nbsp Brazil 2011 nbsp South Africa 2012 nbsp India 2013 nbsp Mexico 2014 nbsp Egypt 2015 nbsp Lebanon 2016 nbsp Colombia 2017 nbsp Ethiopia 2018 nbsp Sri Lanka 2019 nbsp Peru 2020 nbsp Ghana 2021 nbsp Iran 2022 nbsp Guatemala 2023 nbsp Cote d IvoireResearch and publications editThe Group also maintains a research and work program that revolves around issues of importance to developing countries In particular the program focuses on three key areas The global economy and growth agenda international financial architecture and financing for development The global economy and growth agenda emphasizes structural transformation trade and technology and inequality international financial architecture covers reform and governance of global financial institutions the global financial safety net and managing capital flows and financial regulation financing for development includes taxation and international tax cooperation infrastructure financing debt management and sustainability and financial inclusion Much of the group s research including books policy briefs and working papers can be found on its website 5 References edit a b Members Intergovernmental Group of 24 Intergovernmental Group of 24 n d Retrieved 19 February 2019 a b Observers Intergovernmental Group of 24 Intergovernmental Group of 24 n d Retrieved 19 February 2019 Organizational Structure and Governance G 24 G 24 Retrieved 2018 10 02 Secretariat G 24 www g24 org Retrieved 2023 09 28 Working Papers G 24 G 24 Retrieved 2018 11 13 External links edit nbsp Wikimedia Commons has media related to Group of 24 Official site Retrieved from https en wikipedia org w index php title Group of 24 amp oldid 1190410423, wikipedia, wiki, book, books, library,
