Group Of 24 - G-24

DEFINITION of 'Group Of 24 - G-24'

Twenty-four countries established in 1971 to work together 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. G-24 is a chapter of the Group of 77 (G-77), the largest intergovernmental group of developing states in the United Nations.



BREAKING DOWN 'Group Of 24 - G-24'

Membership is strictly limited to 24 countries, but any member of the G-77 can join discussions. China has been a "special invitee" since 1981. While it is not an organ of the IMF, the IMF provides secretariat services for the Group.



RELATED TERMS
  1. International Monetary Fund - IMF

    An international organization created for the purpose of standardizing ...
  2. Developed Economy

    While there is no one, set definition of a developed economy ...
  3. World Economic Outlook - WEO

    A report by the International Monetary Fund (IMF) that contains ...
  4. Accountant International Study ...

    An organization that studied the differences in accounting practices ...
  5. Conditionality

    The requirements placed on the usage or distribution of money ...
  6. United Nations - UN

    An international organization formed in 1945 to increase political ...
Related Articles
  1. Economics

    What is the International Monetary Fund?

    The International Monetary Fund fosters global monetary cooperation and sustainable economic growth.
  2. Fundamental Analysis

    An Introduction To The International Monetary Fund (IMF)

    Chances are you've heard of the IMF. But what does it do, and why is it so controversial?
  3. Economics

    Could Third World Debt Relief Pay Off?

    Debt is as much a political tool as an economic one. Discover if wholesale debt forgiveness is the answer for developing countries.
  4. Insurance

    What Is The World Bank?

    You've heard of the World Bank, now find out how it functions and why some groups oppose it.
  5. Economics

    Confused How The IMF, World Bank, & WTO differ?

    From loans to Athens and trade deals in Asia to economic reports on the world’s most successful and most troubled economies, these organizations make headlines across the globe
  6. Personal Finance

    What Is International Trade?

    Everyone's talking about globalization, so we explain what is it and why some oppose it.
  7. Investing

    What is Globalization?

    As a business term, globalization refers to the tendency of international trade, investments, information technology and outsourced manufacturing to weave the economies of diverse countries together.
  8. Economics

    How to Inspect a Country's Debt

    Being developed doesn’t necessarily make an economy better, as far as debt is concerned.
  9. Economics

    How To Fight The Resource Curse

    Countries focusing on commodity exports face a potentially crippling problem. Find out how to prevent Dutch disease.
  10. Mutual Funds & ETFs

    4 Ways to Get International Exposure in Your Portfolio

    International investing provides diversification, which is needed these days. When it comes to investing in foreign stocks, there are lots of options.
RELATED FAQS
  1. What is the difference between International Monetary Fund and the World Bank?

    Learn about the International Monetary Fund and the World Bank and how they are differentiated by their respective functions ... Read Answer >>
  2. How do externalities affect equilibrium and create market failure?

    Learn about the responsibilities of the International Monetary Fund and its functions regarding the international monetary ... Read Answer >>
  3. What are the advantages and disadvantages of the International Monetary Fund?

    Learn about some of the main advantages and disadvantages of the International Monetary Fund and why the IMF's mission is ... Read Answer >>
  4. What is the purpose of the International Monetary Fund?

    Read about the stated goals of the International Monetary Fund, which acts as an economic adviser and lender of last resort ... Read Answer >>
  5. Is Brazil a developed country?

    Understand why Brazil's low per capita gross domestic product; high birth and death rates; and subpar living conditions classify ... Read Answer >>
  6. Is Argentina a developed country?

    Learn why Argentina, as of 2015, is not classified as a developed country despite having a qualifying gross domestic product ... Read Answer >>
Hot Definitions
  1. Goldilocks Economy

    An economy that is not so hot that it causes inflation, and not so cold that it causes a recession. This term is used to ...
  2. White Squire

    Very similar to a "white knight", but instead of purchasing a majority interest, the squire purchases a lesser interest in ...
  3. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  4. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  5. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  6. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
Trading Center