G-24 Countries / Group of 24 Countries 2024

The Group of 24 is a chapter of the Group of 77. This chapter represents a group of developing countries that are still growing their economies. The goal is to help these companies with various financial issues that often plague countries with developing economies. Many countries that are still developing have a difficult time with basic money management. They often take on too much debt, and they have a difficult time negotiating favorable treaties with countries that have more developed economies. When these countries decide to work together, they may have an easier time handling important financial issues that can help them fight poverty and advocate for their citizens.

Who is in the Group of 24?

Even though it is called the Group of 24, any country in the Group of 77 is allowed to join. Some of the countries that are in this group include the Ivory Coast, Algeria, the Democratic Republic of the Congo, Morocco, South Africa, Venezuela, Trinidad and Tobago, Haiti, Brazil, Guatemala, India, Syria, and the Philippines. Even though China is one of the largest countries in the world, it is also a member of this group. China's economy has grown significantly during the past few decades, but they still have a lot of strong connections to the countries in this group, so they are still considered a member. In addition, there are several countries that are observers of the Group of 24. They include the United Arab Emirates, Saudi Arabia, Indonesia, and Bangladesh.

Is the Group of 24 Connected to the IMF?

This group is not considered a subsidiary of the International Monetary Fund, also known as the IMF; however, the IMF is closely connected to this group. The group meets biannually. The first meeting comes before the International Monetary and Financial Committee Meeting. The second meeting comes before the Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund. The goal of these meetings is to allow member states to discuss important agenda items before the IMF meets. That way, when the IMF meets, they understand the positions of the Group of 24, and they can address certain issues in a way that could be beneficial to developing countries.

Should you visit countries in the Group of 24?

Even though many of these countries still have developing economies, there are some that are worth visiting. Of course, it is a matter of personal preference, but it is important to think about safety. There are some countries on this list that are safe to visit. For example, China, Indonesia, Morocco, and South Africa are beautiful places to go. It is important for people to keep their wits about them when they travel to minimize their chances of being harassed or attacked. On the other hand, there are some countries that have very high levels of crime that are probably best to avoid. It is always smart to take a look at alerts from the state department before deciding to visit these countries.