Question

Why Did Most Developing Countries Organise Themselves Into The Group Of 77 During 1960S

Answer 1

• Most of the developing countries did not get any benefit from the fast growth the western powers experienced during the 1960s.
• The colonial powers had exploited the natural resources of the developing nations for their own benefit. Even the world bank and International Monetary Fund were under the influence of the colonial powers.
• The developing nations wanted to get assistance for their development and to have control over their national resources. They also wanted to find better markets for their finished goods.
• Hence, these developing countries organized themselves into the Group of 77 during the 1960s to demand a New International Economic Order (NIEO).

Hope it helps you.....!!!

Answer 2

Answer:

(i) The developing countries came under

the guidance of IMF and World Bank which were

dominated by the former colonial powers in order

to uplift their economies.

(ii) Former colonial powers exploited the natural

resources of developing nations through IMF and

World Bank.

(iii) The developing nations organised themselves

into G-77 so as to gain real control over their

natural resources, to get more development

assistance and fairer prices for raw materials.

(iv) They also wanted a better opportunity

for their manufactured good in the markets of

developing nations.