Explain what is referred to as the G- 77 countries. In what ways can G- 77 be seen as a reaction...
0Explain what is referred to as the G- 77 countries. In what ways can G- 77 be seen as a reaction to the activities of the Bretton Woods twins?
* G-77 is group of developing countries that demanded a New International Economic Order (NIEO) -
* to get real control over their natural resources, more development assistance, fairer prices for raw materials and better access for their manufactured goods in the markets of the developed countries.
* The Bretton Woods twins (International Monetary Fund and World Bank) were established by the developed countries to meet theim financial needs. They were not at all interested in the economic development of former Colonial countries
W I I and developing nations.
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