MARRAKESH: G24, a group of developing nations, has backed the recommendations of the independent expert group on reform of multilateral development banks. “It strongly supported the strategy, the ambition, targets and quality of recommendations. This provides a very good impetus, which can influence the thinking of the G20 ministers, especially the more advanced economies,” said an Indian official.
The report of the independent expert group, co-chaired by Larry Summers and NK Singh, is due to be made public ahead of the meeting of G20 finance ministers and central bank ministers later this week. At the G24 meeting, Singh emphasised that the recommendations are of great benefit to the developing world.
