Peru: Central Bank Governor takes part in G-24 meeting

11:52 | Washington D.C. (U.S.), Apr. 12.

Central Reserve Bank (BCR) Governor Julio Velarde has participated in the Meeting of Ministers and Governors of the Intergovernmental Group of Twenty-four on International Monetary Affairs and Development (G-24).

The meeting was held on Tuesday within the framework of the 2023 Spring Meetings of the International Monetary Fund and the World Bank Group in Washington D.C.

At the event, IMF Managing Director Kristalina Georgieva and World Bank Group President David Malpass spoke about the many challenges and uncertainty battering the global economy.

The G-24 governors stated that global growth remains below pre-pandemic levels and faces downside risks.

They emphasized that geopolitical conflicts, combined with extreme weather conditions, are a source of inflationary pressures, as well as food and energy insecurity. 

The governors also noted that, given the growing risks, multilateral agencies should continue to provide support to expand global liquidity.

In 2019, Velarde was chairman of the G-24, which was established in 1971 with a view to promoting dialogue between emerging countries and advanced economies on monetary, financial, and development policy issues.

The Group is made up of Argentina, Algeria, Brazil, Colombia, Ivory Coast, Egypt, Ethiopia, Gabon, Ghana, Guatemala, India, Iran, Lebanon, Mexico, Nigeria, Pakistan, Peru, Philippines, South Africa, Sri Lanka, Syria, Trinidad and Tobago and Venezuela.

In 2017, four countries joined the G-24: Ecuador, Haiti, Kenya, and Morocco.


Publicado: 12/4/2023