G-24 countries’ Technical Group meets in Colombo | Sunday Observer

G-24 countries’ Technical Group meets in Colombo

The two-day Technical Group Meeting of the G- 24 countries will be inaugurated by the Minister of Finance and Mass Media Mangala Samaraweera at 9.00 am on Tuesday, February 27, at the BMICH in Colombo.

Over 45 delegates consisting of Secretaries of Ministry of Finance and the Governors of the Central Bank from member countries will take part at this two-day technical committee meeting.

The Group of 24 (G24), a chapter of the Group of G-77 countries, 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 international monetary matters. The G–24 group, which is officially called the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development, receives the secretariat services from the IMF.

Its meetings usually take place twice a year, prior to the International Monetary and Financial Committee and Development Committee meetings, to enable developing country members to discuss agenda items.

The G-24 Bureau is the executive arm of the G-24 and consists of the Chair, First Vice-Chair, Second Vice-Chair, and two previous Chairs. The Bureau is headed by Finance Minister Mangala Samaraweera.