The bloc called for increased channeling of Special Drawing Rights from donor countries to needy countries
In its intervention, the G-24 asked for reform of IMF short-term financing instruments; increased concessional financing to low-income countries; downward review of IMF's charges and surcharges; and increased channeling of Special Drawing Rights from donor countries to needy countries.to supplement the official reserves of its member countries.
While welcoming the World Bank reform programme, members noted that they look forward to a bigger, better, and more efficient bank while calling for more concessional lending, especially for global public goods, and for a just energy transition.There was a problem processing your submission. Please try again later.
G-24 members, on their part, expressed concern about high and increasing public debt levels, with many developing countries carrying unsustainable debt burdens. Although members welcome progress on the G-20 Common Framework, they called for the design of"a comprehensive and responsible approach that has concrete impactful measures to support countries in reducing high debt levels and debt service costs.