
Pakistan has been elected the next chair of the ‘Group of 77’, which is the largest intergovernmental grouping of developing countries in the United Nations.
Foreign Minister Shah Mahmood Qureshi addressed the meeting and thanked the 134 members of G77 and China for reposing their trust in Pakistan to lead the group in 2022.
He underscored that, as the next chair of the Group of 77 and China, Pakistan would work with the members of the group to promote such a development agenda, including debt restructuring; redistribution of the $650 billion new SDRs to developing countries; larger concessional financing; mobilisation of the $100 billion in annual climate finance by the developed countries; ending the billions in illicit financial flows from the developing countries and the return of their stolen assets; and the creation of an equitable and open trading system and a fair international tax regime.
The Group of 77, established in 1964, is the largest intergovernmental grouping of developing countries in the United Nations. It provides the means for the countries of the Global South to articulate and promote their collective economic interests within the UN system.
Article first published on Tribune on 30 November, 2021.
Read full article: Pakistan elected head of G77 at UN