G-77 and G-24

Definition of G-77 and G-24

Within the context of international organizations, the following is a brief meaning of g-77 and g-24: G-77 is a loose coalition of developing nations, designed to promote its members' collective economic interests and create an enhanced joint negotiating capacity in the United Nations. There were 77 founding members of the organization, but by November 2013 the organization had since expanded to 134 member countries. Thailand holds the Chairmanship for 2016. This group fosters south-south cooperation and represents a block of developing countries. Out of them 24 countries created a G-24 as a chapter of G-77 in 1971 to coordinate the positions of developing countries on international monetary and development finance issues {including matters related to International Monetary Fund}.

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See Also

• International Organization