The president of the Central Reserve Bank of Peru (BCRP), Julio Velardeparticipated on Tuesday in the Meeting of Ministers and Governors of the Intergovernmental Group of Twenty-four for International Monetary Affairs and Development (G-24), in the framework of the Spring Meetings of the Group world Bank and the International Monetary Fund (IMF) in Washington.
At said meeting, Kristalina Georgievamanaging director of the IMF, and David Malpasspresident of the World Bank Groupspoke about the multiple challenges and uncertainty facing the global economy.
The G-24 Governors noted that global growth remains below pre-pandemic levels, with downside risks. They emphasized that, along with extreme weather conditions, geopolitical conflicts are a source of inflationary pressures and food and energy insecurity. They also indicated that, given the growing risks, multilateral agencies should continue to provide support to expand global liquidity.
It should be remembered that, in 2019, Julio Velarde was president of the G-24, formed in 1971 to facilitate dialogue between emerging countries and advanced economies on monetary, financial, and development policy issues.
The G-24 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.
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