Communiqué of the Fifty-Eighth Meeting of the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24), February 7-9, 1998, Caracas, Venezuela

The Ministers of the Intergovernmental Group of Twenty-Four (G-24) met in extraordinary session for their Fitly-Eighth Meeting in Caracas, Venezuela from February 7 to 9, 1998 and
agreed to issue the following Declaration: The prime responsibility for development and poverty reduction in the developing world continues to rest with the peoples, institutions and governments of the developing countries themselves. To this end, sound macroeconomic policies, transparency in the working of public institutions, and good governance are essential.