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Q.

[[1]] was responsible for the formation of G-77.

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Detailed Solution

The Bretton Woods system was responsible for the formation of G-77.
The formation of the G-77 group can be regarded as a group of developing countries countering the Bretton Woods Settlement. The Western nations dominated the Bretton Woods institutions and focused more on the development of these nations only. The US exploited the natural resources of the developing nations very cheaply. So the developing nations formed a group of 77 nations to demand a new international economic order. It demanded real control of natural resources and fair prices for raw materials. It also asked for better access to manufactured goods in the markets of developed nations.

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