G24 COMMUNIQUÉ - 2020 - 关于发展委员会通报

Jul 19, 2026

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G24 Communiqué records the Development Committee’s information circulation regarding the 104th meeting of the Ministers of the Intergovernmental Group of Twenty-Four on international monetary affairs and development, held virtually on October 13, 2020. It highlights the global COVID-19 shock, with severe and uneven impacts on emerging markets and developing countries, intensifying inequality and undermining recovery. The communiqué emphasizes urgent vaccine and treatment access, stronger liquidity and fiscal support, and progress toward a robust global financial safety net, including IMF quota reforms and expanded financing mechanisms.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages5

Reading Time13 min

AccessFree to download

G24 Communiqué

Meeting circulation and context

COVID-19 impacts on EMDCs and recovery risks

Global cooperation for vaccines, treatments, and access

Policy support: liquidity, fiscal assistance, and trade resilience

Global Financial Safety Net and IMF quota review

Concessional financing and reforms to curb illicit flows

Public Disclosure Authorized Public Disclosure Authorized DEVELOPMENT COMMITTEE (Joint Ministerial Committee of the Boards of Governors ofthe Bank and the Fundon the Transfer of Real Resources to Developing Countries) DC/S/2020-0047 October 13, 2020 G24 COMMUNIQUÉ The attached Communiqué of the one hundred and fourth meeting of the Ministers ofthe Intergovernmental Group of Twenty-Four, held virtually on October 13, 2020, is circulated for the information of the Development Committee at the request of Kenneth Ofori-Atta, Minister of Finance, Ghana, serving as Chair. *** INTERGOVERNMENTAL GROUP OF TWENTY-FOUR ON INTERNATIONAL MONETARY AFFAIRS AND DEVELOPMENT COMMUNIQUÉ Chaired by Kenneth Ofori-Atta, Minister of Finance of Ghana October 13, 2020 1. COVID-19 has spread rapidly around the world and in many emerging markets and developing countries (EMDCs) over the past six months. While countries are in different stages in containing the spread of the virus, several are still experiencing high levels of infection and deaths. While the global economy remains in recession, the global outlook has improved slightly as the economic decline in some major economies has been less severe than projected earlier. The economic impact of the global contraction and national measures taken to contain the pandemic, while varying across countries, has been severe for EMDCs overall. For the first time in decades, GDP growth in EMDCs, as a group, is expected to be negative this year. The pandemic is also exacerbating inequality, with millions of people losing their livelihood and falling into poverty. 2. We continue to face a highly uncertain economic outlook. Securing economic recovery is expected to be protracted with likely scarring damage to productive capacity. Recovery could beset back by recurring surges of infections as social distancing measures are eased. In addition, risks to financial stability remain, which present potential headwinds for recovery. Increased downside risks imperil hard-won development gains and make the achievement of sustainable development goals even harder. Nevertheless, we remain optimistic about the potential for effective and accessible vaccines and treatments that could overcome the pandemic and therefore hasten the resumption of economic activity. 3. At this critical juncture, we are encouraged by the efforts of the G20, World Health Organization, World Trade Organization, and International Financial Institutions (IFIs) to deepen global cooperation to support all countries – in solidarity – confronting the inter-related health, social and economic crises brought about by the COVID-19 pandemic. We take note of the G20’s collective support for the development, manufacture and equitable distribution of affordable vaccines and treatments, which are critical global public goods, to contain the pandemic. All countries, without exception, should have timely and affordable access to these public goods on the basis of need, and also for humanitarian reasons. We also welcome the WBG’s proposed $12 billion initiative that would help developing countries procure COVID-19 vaccines to treat up to 1 billion people as soon as effective drugs become available. We also welcome the COVID-19 Vaccine Global Access (COVAX) Initiative and urge major economies to provide the necessary financial support to ensure timely and affordable access for all countries, without exception. 4. We call on the major economies to work together and use all policy tools available to foster a supporting environment to help countries striving to contain the pandemic and restore an inclusive economic growth. They should continue to facilitate international trade and investment and build the resilience of supply chains to support growth and development. We continue to respond with exceptional policy measures, as national circumstances permit, to manage the pandemic’s impact. The sharp decline in our major sources of reven

FAQs

What meeting does the G24 Communiqué refer to?

It refers to the 104th meeting of the Ministers of the Intergovernmental Group of Twenty-Four, held virtually on October 13, 2020.

How does COVID-19 affect emerging markets and developing countries according to the communiqué?

It states that infection and death levels remain high, economic activity is severely impacted, GDP growth for EMDCs is expected to be negative for the year, and inequality worsens as people lose livelihoods and fall into poverty.

What do the G24 call for regarding vaccines and treatments?

They call for major economies and relevant institutions to deepen cooperation and ensure timely, affordable access for all countries on the basis of need and for humanitarian reasons, including through initiatives like COVAX and a proposed WBG initiative.

Jul 19, 2026

Upload by Levi