Communiqué of the Seventy-First Meeting of the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24), April 23, 2004, Washington, D.C.

Ministers welcome the strengthening in global growth prospects, but note that the recovery faces some significant downside risks, such as massive payments imbalances, an impending transition to a higher interest rate environment, and persistent geopolitical concerns. They note that while economic activity has strengthened in several regions, the gains have been unevenly spread, with growth in sub-Saharan Africa in particular falling well short of the requirement for achieving sustained poverty reduction and reaching the Millennium Development Goals (MDGs).