Press Information Bureau
Government of India |
Saturday, October 03, 2009 | |||||
Ministry of Finance | |||||
INDIA ELECTED AS SECOND VICE CHAIR OF G 24 COUNTRIES |
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19:41 IST | |||||
In the meeting of G 24 countries held at He would automatically become the 1st Vice Chair in 2010-11 and then in 1011-12 he would be the Chair of G 24 countries. Till now The Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24) was established in 1971. Its main objective is to concert the position of developing countries on monetary and development finance issues. It consists of the countries from each of the three regions – Member countries are as follows:
Countries that are members of the G-77 are welcome to attend G-24 meetings as Observers while the People's Republic of The G-24 operates at two levels - the political level of Ministers of Finance / Central Bank Governors and the level of officials designated as the Deputies. There are three office-bearer countries: the Chair, the First and Second Vice Chair, representing the three regions and constituting the G-24 Bureau. An elected country takes up the Second Vice Chair position for the first 12-month period, becomes First Vice Chair the following year and assumes the Chair in the year thereafter. ********** |