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Intergovernmental Group of Twenty-Four
G-24 Logo.svg
G24 nations.svg
Members of the Group of 24 as of 2019
Abbreviation G-24
Named after Number of founding Member States
Formation 1971; 54 years ago (1971)
Founder Group of 77
Founded at Lima, Peru
Type Intergovernmental trade bloc
Purpose To aid in the coordination of the positions of developing countries on monetary and development issues
Headquarters Washington, D.C., United States
Methods Collective bargaining, lobbying, reports and studies
Fields International trade
Membership (2019)
 29 Member States
Chair of the G-24
 Adama Coulibaly (Adama Coulibaly in French)
Parent organization
 Group of 77
Affiliations United Nations
Website www.g24.org

The Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development, usually called the Group of 24 (G-24), is an important group of countries. It was started in 1971 by the Group of 77. Its main goal is to help developing countries work together. They want to make sure these countries have a strong voice in global discussions about money and how countries grow.

Even though it started with 24 founding members, the G-24 now has 28 member countries. China also joins their meetings as a special guest. Any country that is part of the G-77 can also take part in the G-24's discussions.

The G-24 is not officially part of the International Monetary Fund (IMF). However, the IMF helps the G-24 by providing support for its meetings and work. The G-24 meets twice a year. These meetings happen before big gatherings of the IMF and the World Bank. This allows developing countries to talk about important topics before these major global financial meetings.

Who are the G-24 Members?

The G-24 includes countries from Africa, Latin America and the Caribbean, and Asia. Here are the member countries:

African Members

Latin American and Caribbean Members

Asian Members

Observer States

Some countries attend G-24 meetings as observers. They can listen and learn but are not full members.

Observer Organizations

Several international organizations also observe the G-24's work.

How the G-24 Works

The G-24 operates in two main ways to achieve its goals:

Political Discussions

This level involves important leaders like Ministers and their Deputies. They meet to discuss big ideas and make decisions. These meetings happen twice a year, usually before the major meetings of the IMF and the World Bank Group. During these meetings, they talk about issues important to developing countries. At the end, they release a public statement called a Communiqué. This statement shares the group's shared views and decisions. All decisions are made by everyone agreeing, which is called consensus.

Daily Operations

The G-24 also has an office called the G-24 Liaison Office. This office handles the day-to-day work. It includes the G-24 Secretariat and a Research Coordinator. The Secretariat is a permanent team based in Washington D.C., at the IMF Headquarters. Their job is to help G-24 members communicate and agree on important topics. They also manage the group's work plan and help the leaders with their meetings.

The Secretariat also manages the G-24's research program. This program studies important topics for developing countries. It looks at things like the global economy, how international money systems work, and how to get money for development projects. This research helps the G-24 make informed decisions and share its views.

Leadership of the G-24

The G-24 has different leaders who help guide its work.

Current Political Leaders

  • Chair: Adama Coulibaly, who is the Minister of Finance for Côte d'Ivoire.
  • First Vice-Chair: Benjamin Diokno, the Secretary of Finance for the Philippines.
  • Second Vice-Chair: Sergio Massa, the Minister of Treasury for Argentina.

Secretariat Directors

The Secretariat is led by a Director. This person also manages the G-24’s Research Program. Here are some of the past and current Directors:

  • 1997: Aziz Ali Mohammed
  • 2000–2002: William Larralde (from  Venezuela)
  • 2002–2007: Ariel Buira (from  Mexico)
  • 2007–2014: Amar Bhattacharya
  • 2014–2023: Marilou Uy (from  Philippines)
  • 2023–present: Iyabo Masha (from  Nigeria)

Past Chairs

The role of Chair changes each year. The Chair leads the G-24's meetings and represents the group. Here are some of the countries that have held the Chair position:

Research and Publications

The G-24 also has a strong focus on research. They study topics that are important for developing countries. This includes how the global economy works, how international financial systems can be improved, and how to find money for development. Their research covers areas like trade, technology, and reducing inequality. They also look at how to manage debt and make sure everyone has access to financial services. You can find many of their studies and reports on their official website.

See also

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