Group of Twenty-Four (G-24)

The Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development, known as the Group of Twenty-Four or G-24, was established in 1971 as an offshoot of the Group of 77 and formally constituted in 1972 at Lima, Peru, to coordinate the positions of developing countries on international monetary and development finance questions and strengthen their voice at the IMF and World Bank. Headquartered in Washington, D.C., where the IMF provides its secretariat, the group has grown from its original twenty-four members to twenty-eight plus China as a special invitee, and it meets twice a year ahead of the major IMF and World Bank gatherings.