Nasr floats Egypt's vision to enhance world economic performance, support developing countries

Minister of International Cooperation Sahar Nasr said the Intergovernmental Group of Twenty Four (G-24) ministerial meeting, held on the fringe of WB annual meeting, will discuss a set of issues pertaining to various development challenges facing developing countries as a result of instability in the international economy, slackening of international trade and worsening humanitarian conditions in a number of Middle Eastern states.

Nasr, who also serves as Egypt's Governor at the World Bank, is leading Egypt's delegation to the G-24 meeting.

During her participation, the minister will discuss the importance of the developed countries' involvement as well as international finance foundations in supporting developing countries in face of current economic challenges.

She will also shed light on the importance of adopting economic policies that would promote stability in the world economy, decrease poverty rates and achieve sustainable and comprehensive development.

The G-24 was established in 1971 by the Group of 77 (G-77) as one of its Chapters, and formally created in 1972. 

A semi-annual meeting of the entire membership of the twenty-four countries usually represented by the ministers of finance/economy or the Central Bank governor of each of the countries. The meeting precedes the Spring and Fall meetings of the International Monetary and Financial Committee (IMFC) and the Development Committee (DC).

The group convenes twice annually on the fringe of WB meetings and it includes Egypt, Algeria, Lebanon, Syria, Cote Ivoire, Ethiopia, Nigeria, Gabon, Ghana, South Africa, Congo, Argentina, Brazil, Colombia, Mexico, Peru, Venezuela and others.