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. Chart Advisor

    Is Now the Time to Invest in North America?

    Bullish chart patterns across the North American markets suggest that now might actually be a wise time to allocate closer to home.
  8. Investing

    How To Trade Foreign Stocks

    We weigh the major ways to trade foreign stocks for investors.
  9. Economics

    The 3 Most Dangerous Terrorist Organizations

    A brief look at the Islamic State, Al Qaeda and Boko Haram. What are they? What do they want? Where did they come from?
  10. Economics

    Asian LNG Prices: Not Likely To Rise Anytime Soon

    Asian LNG prices could stay low for an extended period of time, due to low oil prices, less demand and new LNG-producing projects on various continents.

You May Also Like

Hot Definitions
  1. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  2. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  3. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
  4. Hurdle Rate

    The minimum rate of return on a project or investment required by a manager or investor. In order to compensate for risk, ...
  5. Market Value

    The price an asset would fetch in the marketplace. Market value is also commonly used to refer to the market capitalization ...
  6. Preference Shares

    Company stock with dividends that are paid to shareholders before common stock dividends are paid out. In the event of a ...
Trading Center