The Committee advises and reports to the Board of Governors of the Bank and the Fund on all aspects of the broad question of the transfer of real resources to developing countries, and makes suggestions for their implementation. The Chairman is Mohammed Kabbaj, Minister of Finance and Foreign Investment of Morocco. The Group of 24 Ministers , was formed at the 1972 Lima meeting of the Group of 77 to represent the interests of the developing countries in negotiations on international monetary matters. However, the IMF provides secretariat services for the Group, whose meetings usually take place in conjunction with those of the Interim and Development Committees to enable developing members to discuss agenda items before the meetings of the two Committees. The Group of 24 comprises eight members each from Africa, Asia, and Latin America.
China attends as an invitee.
The Chairman of the Ministers and the Chairman of the Deputies will be from Venezuela. The Chairman of the Ministers is Gerrit Zalm, Minister of Finance of the Netherlands, and the Chairman of the Deputies is Mario Draghi, Director-General of the Italian Treasury Ministry's General Directorate of the Treasury. Finance Ministers and Central Bank Governors of the Group of Seven major industrial countries generally hold a meeting at the time of the Annual Meetings. The press conferences of International Monetary Fund Managing Director Michel Camdessus and World Bank Group President James D. Wolfensohn on September 18 and 19, respectively, provide an opportunity for journalists to enquire about issues of current interest on the world economy and the work of the World Bank Group and the International Monetary Fund. Published twice a year, the WEO contains projections and analysis that are an integral part of the IMF's surveillance of economic developments and policies in its member countries and of the global economic system.