Question

Explain 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?

Answer 1

Dear Student,

• G-77 is an intergovernmental organisation of developing countries.
• It was formed in the year 1964.
• It has been designed by the developing countries to articulate and aggregate their economic interests
• It is aimed at promoting South -south cooperation.
• It is in reaction to the Bretton Woods twins IMF and WB because in contrast to these, G-77 does not alter or change the economic reforms. they do not impose harsh penalties on the population of the patron nation. The Bretton Woods Twins eventually cause economic stress.