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What did G-77 consist?What to gain from the NIEO? Drscribe

Posted by Abhijay Tamrakar 6 years, 8 months ago

CBSE > Class 10 > Social Science

1 answers

Sia ? 6 years, 8 months ago

G-77 or Group of 77 refers to the seventy-seven newly-independent nations that felt that they are not benefiting from the growth of western economic and international financial institutions as they should. Therefore, these countries organized themselves to form G-77 or the Group of 77.

They demanded:

A new international economic order that would give them real control over their natural resources.
More development assistance.
Fairer prices for raw material and
Better access for their manufactured goods in developed countries markets.

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CBSE > Class 10 > Social Science