G-24 Foundation Year by Group of 77
The Group of 24 (G-24) is an important intergovernmental group. It was established as one of the chapters of the larger Group of 77 (G-77). The main goal of the G-24 is to represent and coordinate the views of developing countries on international monetary and financial matters.
G-24 Establishment Details
The G-24 group was founded in the year 1971. The Group of 77 (G-77), which consists of many developing nations, created the G-24 to give these countries a unified platform to discuss and influence global economic policies and decisions, especially within key international financial institutions.
Analyzing the Establishment Year
The question asks for the specific year the G-24 was established by the G-77. Among the choices provided:
- 1995
- 1971
- 1999
- 1976
Historical records confirm that 1971 is the year the G-24 was established by the Group of 77 (G-77) to act as its chapter focusing on monetary and financial issues.
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