Group of 77

AAA

DEFINITION of 'Group of 77'

The largest intergovernmental organization of developing nations in the United Nations. It was created on June 15, 1964 and has since expanded to 130 members. The group enables countries to jointly leverage their negotiating capacity related to major international economic issues within the U.N. and "promote their collective economic interests." The group also works to more rapidly facilitate South-South cooperative efforts to foster development.

The group held its first meeting on October 25, 1967. The result of the initial meeting was a proposed institutional structure dubbed the "Charter of Algiers."

Also known as the G-77.

INVESTOPEDIA EXPLAINS 'Group of 77'

The Group of 77 has liaison offices located in Geneva (UNCTAD), Nairobi (UNEP), Paris (UNESCO), Rome (FAO), Vienna (UNIDO) and Washington, D.C. (IMF and World Bank). Member countries finance the group's activities through contributions.

RELATED TERMS
  1. Group Of 24 - G-24

    Twenty-four countries established in 1971 to work together to ...
  2. International Monetary Fund - IMF

    An international organization created for the purpose of: 1. ...
  3. Lesser-Developed Country - LDC

    A country that is considered lacking in terms of its economy, ...
  4. Group of Ten - G10

    Eleven industrialized nations that meet on an annual basis to ...
  5. Group of Five - G-5

    Name given to the five industrialized nations that meet periodically ...
  6. Separation Of Powers

    An organizational structure in which responsibilities, authorities, ...
Related Articles
  1. Economics

    Can The IMF Solve Global Economic Problems?

    The IMF is an important tool to help struggling countries, but it's not without its problems.
  2. Insurance

    What Is The World Bank?

    You've heard of the World Bank, now find out how it functions and why some groups oppose it.
  3. Forex Education

    Global Trade And The Currency Market

    Learn how the Bretton Woods system got the ball rolling for world trade.
  4. Fundamental Analysis

    An Introduction To The International Monetary Fund (IMF)

    Chances are you've heard of the IMF. But what does it do, and why is it so controversial?
  5. Economics

    What Is An Emerging Market Economy?

    Emerging markets provide new investment opportunities, but there are risks - both to residents and foreign investors.
  6. Personal Finance

    What Is The Bank For International Settlements?

    Get the scoop on the structure and functions of the oldest global financial institution.
  7. Economics

    Sectors Hit by Sanctions on North Korea

    We look at the sectors most affected by the US sanctions imposed against North Korea.
  8. Economics

    Vladimir Putin: Rise to Power and Fortune

    An article about Vladimir Putin, where he studied, how he came into power, his net worth, and the current leverage he has on world politics.
  9. Stock Analysis

    A New Economic Threat: State-Sponsored Hacking

    State sponsored hacking attempts are becoming a major cause of concern to the US. Here is a list of US sectors most vulnerable to state-sponsored hacking.
  10. Personal Finance

    Asia's Safest (And Not That Costly) Countries

    Even Asia's safest countries are affordable, at least compared to New York City. The bargain is Malaysia, though tourists should avoid certain regions.

You May Also Like

Hot Definitions
  1. Efficiency Ratio

    Ratios that are typically used to analyze how well a company uses its assets and liabilities internally. Efficiency Ratios ...
  2. Fixed Cost

    A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses ...
  3. Subsidy

    A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy ...
  4. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  5. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  6. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
Trading Center