[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110263-en":3,"doc-seo-110263-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},110263,1649267921044,"Ava Thompson","https://us-avatar.wpscdn.com/avatar/1800007509477c92dfb?_k=1782875107921204101",8,"Research & Report","G24 Communiqué - 2023 - October 10","G24 Communiqué outlines the Development Committee’s circulated statement from the 110th Ministers’ meeting of the Intergovernmental Group of Twenty-Four held on October 10, 2023. It addresses condolences for global crises, supports peace and relief efforts, and assesses uneven global recovery alongside tightening financing pressures on low- and middle-income countries. The text calls on the IMF to ease access barriers, review surcharges, expand credit reforms, enhance liquidity, and advance quota governance and regional representation for stronger multilateral effectiveness.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee of the  \nBoards of Governors ofthe Bank and the Fundon the  \nTransfer of Real Resources to Developing Countries)  \nDC/S/2023-0060  \nOctober 12, 2023  \nG24 COMMUNIQUÉ  \nThe attached Communiqué of the one hundred and tenth meeting of the Ministers of the Intergovernmental Group of Twenty-Four, held on October 10, 2023, is circulated for the information of the Development Committee at the request of Adama Coulibaly, Minister of Economy and Finance, Côte d’Ivoire, serving as Chair.  \n*****  \nINTERGOVERNMENTAL GROUP OF TWENTY-FOUR ON INTERNATIONAL MONETARY AFFAIRS AND DEVELOPMENT  \nCOMMUNIQUÉ  \nOCTOBER 10, 2023  \n1. We express our condolences on the human suffering experienced from various crises globally. We strongly support international efforts to restore peace, stability and livelihoods, and call on development partners to “leave no one behind” in the provision of necessary relief and financing. We commend the people of Morocco for hosting our meetings under these trying circumstances.  \n2. The global economy is recovering from multiple shocks, but the recovery is slow and uneven, growth is below its long-run average, and the medium-term outlook is uncertain. Although core inflation remains stickier, inflationary pressures are gradually receding as major central banks raise interest rates. However, the benefits of declining inflation are offset by negative consequences stemming from tightening financing conditions. Rising interest rates are impacting external balances and increasing borrowing costs in low-and middle-income countries (LICs and MICs), putting fiscal positions under stress.  \n3. Against this background, we encourage the International Monetary Fund (IMF) to reduce barriers to access to its financing. We note that for longer-term programs from the Resilience and Sustainability Trust (RST), and Poverty Reduction and Growth Trust (PRGT), access is limited by underfunding, program preconditions, long application and disbursement processes, and high unsustainable debt burdens of prospective applicants. Considering these factors, we encourage the IMF to reassess the requirement of prior Upper Credit Tranche facility for RST. At the same time, the scope could be expanded to more pressing development challenges and the access limit set ata higher level. Furthermore, it is imperative to address the subsidy gaps in the PRGT, and the underfunding of the Catastrophe Containment and Relief Trust, which supports the poorest and most vulnerable nations. We call on countries committed to Special Drawing Rights (SDRs) rechanneling to redeem their pledges in a timely manner, and encourage members with stronger external positions to make voluntary contributions to the trust accounts. While we welcome the recent extension of the Food Shock Window, we urge the IMF to stand ready to continue to support countries that face external financing constraints after the facility expires. To further improve global liquidity, we call for faster progress in addressing the technical issues related to the proposal on voluntarily channeling SDRs through regional development and multilateral development banks (RDBs and MDBs), and Regional Financing Arrangements.  \n4. We welcome the current discussion on IMF’s charges and reiterate our previous call for an urgent review of its surcharges policy, which in the context of monetary tightening environment, exacerbates their pro-cyclical and regressive nature. We call for a suspension of surcharges while the review—which we hope will lead to substantial permanent reduction or complete elimination—is being conducted.  \n5. We welcome the reforms of precautionary credit facilities, which represent a significant step forward in putting the IMF at the center of the global financial safety net, playing the role of international lender of last resort. It is essential to acknowledge the heightened demand ","cbCairJrGYrrDbiz","https://ap.wps.com/l/cbCairJrGYrrDbiz","pdf",229592,4,1,7,"English","en",105,"# Key statements\n## Crisis response and development commitments\n## Economic outlook and financing conditions\n## IMF reforms on access, surcharges, and charges\n## Liquidity support and precautionary facilities\n## Quota realignment and governance reform","[{\"question\":\"What is the main purpose of this G24 Communiqué?\",\"answer\":\"It circulates the Communiqué of the 110th meeting to the Development Committee for information, as requested by the Chair.\"},{\"question\":\"Which challenges to financing and global recovery does the Communiqué highlight?\",\"answer\":\"It notes slow, uneven recovery; persistent but easing inflation; and rising interest rates that increase borrowing costs and stress fiscal positions in low- and middle-income countries.\"},{\"question\":\"What does the Communiqué urge the IMF to change regarding access and surcharges?\",\"answer\":\"It calls for reducing barriers to IMF financing access, reassessing requirements related to longer-term trust programs, and suspending surcharges while a review is conducted with the aim of substantial permanent reduction or elimination.\"}]","G24 Communiqué - 2023 - October 10 | PDF",1784484615,18,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":29},"g24-communique-2023-october-10","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,52],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":51},"https://docshare.wps.com/document/research-report/",3,{"item":53,"name":13,"@type":44,"position":20},"https://docshare.wps.com/document/g24-communique-2023-october-10/110263/",{"url":53,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What is the main purpose of this G24 Communiqué?","Question",{"text":76,"@type":77},"It circulates the Communiqué of the 110th meeting to the Development Committee for information, as requested by the Chair.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"Which challenges to financing and global recovery does the Communiqué highlight?",{"text":81,"@type":77},"It notes slow, uneven recovery; persistent but easing inflation; and rising interest rates that increase borrowing costs and stress fiscal positions in low- and middle-income countries.",{"name":83,"@type":74,"acceptedAnswer":84},"What does the Communiqué urge the IMF to change regarding access and surcharges?",{"text":85,"@type":77},"It calls for reducing barriers to IMF financing access, reassessing requirements related to longer-term trust programs, and suspending surcharges while a review is conducted with the aim of substantial permanent reduction or elimination.","https://schema.org",{"og:url":53,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":53},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,120,123,128,131,135],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":22,"doc_module":4,"doc_module_name":47,"category_name":117,"show_sort_weight":118,"slug":119},"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":47,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":47,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":132,"doc_module":4,"doc_module_name":47,"category_name":133,"show_sort_weight":132,"slug":134},10,"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":47,"category_name":137,"show_sort_weight":107,"slug":138},19,"General","general"]