Bank Exams Questions

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G-15 is an economic grouping of Third World Nations.

The countries listed in G-15 group are Algeria, Argentina, Brazil, Chile, Egypt, India, Indonesia, Iran, Jamaica, Kenya, Malaysia, Mexico, Nigeria, Peru, Senegal, Sri Lanka, Venezuela, and Zimbabwe.

The G-15 membership has expanded to 18 countries, but the name has remained unchanged. 

• The First World described countries whose views aligned with NATO and capitalism. The United States was considered a member of the First World.

• The Second World referred to countries that supported communism and the Soviet Union. Russia was considered a member of the Second World.

• The Third World referred to countries whose views did not align with NATO and capitalism or the Soviet Union and communism. A Third World country is a developing nation characterized by poverty and a low standard of living for much of its population. Third World countries referenced the nations, mostly in Asia and Africa.

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