Hindi, asked by kranthi6595, 1 year ago

why was G77 formed by the developing countries?

Answers

Answered by himanshu2222
23

After the Second World War the less developed newly independent countries while trying to alleviate their people out of poverty, tried to secure help from international agencies like World Bank and IMF. These international agencies were controlled by the powerful western countries of which these were colonies previously. Even the mineral and land resources of these less developed countries were controlled by the former colonial powers. The developing countries did not benefit or witness the fast growth in economy that the Western economies witnessed. Thus 77 such developing countries came together to form a Group 77 or G77 to demand the establishment of a new international economic order (NIEO). this new international economic order includes real control on resources, greater development assistance, fairer price for raw materials and better access to manufactured goods in markets of developed countries. Hence, G 77 is a group of developing nations demanding fair international economic environment for the growth of their economies.

Answered by Ayman8
0

Answer:

Because G77 was developing countries!!

Explanation:

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