Skip to main content Skip to footer

Middle-Income Countries, Hit by Debt Burdens and Rising Inflation, Fight for Survival

February 16, 2024

The Group of 77 (G77) is the largest single coalition of developing countries comprising over two-thirds of the 193-member United Nations.

Besides protecting and promoting the economic interests of 134 nations, the G77 is also home to several sub categories, including the world’s least developed countries (LDCs), landlocked developing countries (LLDCs), small island developing States (SIDS) and middle-income countries (MICs).

But most of the MICs have recently taken a severe beating—their economies undermined by heavy debt burdens, recurrent natural disasters, rising inflation, political upheavals and the lingering after-effects of the Covid-19 pandemic.