explain what is referred to as a G77 countries in what ways can G77 be seen as a reaction to the activities of the Bretton woods twinsv
Answers
Answer:
G77
Explanation:
Answer:
G-77 countries is an abbreviation for the group of 77 countries that demanded a New International Economic Order (NIEO); a system that would give them real control over their natural resources, without being victims of neo-colonialism, that is, a new form of colonialism in trade practised by the former colonial powers. The Group of 77 (G77) at the United Nations is a coalition of 134 developing nations, designed to promote its members' collective economic interests and create an enhanced joint negotiating capacity in the United Nations.
The G-77 can be seen as a reaction to the activities of the Bretton Woods twins (the International Monetary Fund and the World Bank) because these two institutions were designed to meet the financial needs of industrial and developed countries, and did nothing for the economic growth of former colonies and developing nations.