Group Of 24 (G24)

Categories: Econ, International

The vastly misnamed Group of 77 consists of more than 130 countries, mostly small or underdeveloped nations looking to lobby for their economic interests. The G24 is a split-off organization from the G77. It represents a more managably-sized steering committee for the financial concerns of developing nations.

As with G77, the G24 doesn't put a lot emphasis on accurate names. There are actually 28 members. Also, the group lets China join, despite not being part of the official organization.

See: Group of 77 (G77).

Find other enlightening terms in Shmoop Finance Genius Bar(f)