Planning minister inaugurates G-24 meeting in Luxor
Minister of Planning and International Cooperation Ashraf al-Araby - YOUM7 (Archive)

LUXOR: Planning and International Cooperation Minister Ashraf al-Araby inaugurated the Technical Meeting of the Group of 24 in Luxor on Monday.

Over three sessions, the conference will tackle issues pertaining to the world economy, financial resources and debt problems.

Addressing the opening session, Araby said the Egyptian government exerts efforts to realize economic development and social justice through creating job opportunities for youths and attracting investments to the country.

The Group of 24 (G24), a chapter of the G-77, was established in 1971 to coordinate the positions of developing countries on international monetary and finance issues and to ensure that their interests were adequately represented in negotiations on international monetary matters.

The group, which is officially called the Intergovernmental Group of 24 on International Monetary Affairs and Development, is not an organ of the International Monetary Fund, but the IMF provides secretariat services for the group.

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 beforehand.

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