and IMF/World Bank delegates discussed debt vulnerabilities that are rising in some developing countries, particularly low-income countries.
The short-term ratings assigned to the G-20, G-21, G-22, G-23 and G-24
Floater Certificates will be adjusted upward or downward in conjunction with the short-term rating of the bank, and, in some cases, the long-term ratings of the underlying assets deposited in the trusts.
In this context, we call for effective and well-sequenced policy that is adequately communicated to guard against potential financial instability risks, including those coming from normalization of US monetary policy, G-24
financial chiefs noted that the still weak financial systems, rapid increases in sovereign debt and debt sustainability issues in some countries in the euro area are their ''particular concern.''
Over the past decade, the G-24
has engaged in research activities, often supported by donations from some developed countries as well as the United Nations Conference on Trade and Development (UNCTAD), and has drafted position papers on major developing countries' issues.
There is concern that such warnings were ignored in the years prior to the 2008 global financial crisis and as G-24
chair I want to ensure that world leaders aren't complacent and take some proactive measures, not wait until a crisis to react.
We have with us here on the podium the Chairman of the G-24
, Mauricio Cardenas, Minister of Finance and Public Credit Colombia; Second Vice Chair Ravi Karunanayake, Minister of Finance, Sri Lanka; and Ms.
Minister of Planning and International Cooperation Ashraf El-Araby and Luxor Governorate Secretary General Al Harras inaugurated the annual meetings of the Intergovernmental Group of 24 (G-24
) developing countries in Luxor on Monday.
Jomo Kwame Sundaram is United Nations assistant secretary-general for economic development and G-24
After that, Mukherjee will chair the G-24
Finance Ministers' meeting, as he is currently heading the G-24
Finance Ministers' Forum.
nations also expressed concern that continued strains on the world's financial conditions could slow global economic growth and affect emerging economies.
The loan, part of the European Union's accession strategy towards Bulgaria, is a component of the overall financing package mobilised by the G-24
countries and backed by the International Monetary Fund to ensure a sustainable balance of payments situation in support of Bulgaria's reform programme.