G24 discusses global financial future

An Intergovernmental group of 24 emerging and developing countries from Asia, Latin America and Africa have met in Washington to discuss how to deal with the fallout of the global financial crisis.

At the meeting, the group came up with a communique listing their demands on the future of the world's financial system. The group called on the World Bank to offer more assistance to help developing countries reduce poverty. And it urged the IMF to make an "ambitious" change in quota shares for emerging markets and developing countries. They want a shift of 7 percent in quota shares from developed to developing countries.

An Intergovernmental group of 24 emerging and developing countries from Asia, Latin America and Africa have met in Washington to discuss how to deal with the fallout  of the global financial crisis.