Bolivian President Evo Morales speaks during a news conference at United Nations (UN) Headquarters in New York Jan 8, 2014. [Photo/Agencies]

LA PAZ - President Evo Morales, who assumed the G77 chair Wednesday to lead the bloc in 2014, proposed 10 basic guidelines to help member countries navigate a path toward a more just world, Bolivian media reported.

In a speech delivered at a ceremony of G77 chairmanship transfer at UN headquarters in New York, Morales said that the proposals were aimed at orienting the global community toward greater inclusion and more equal distribution of wealth.

He proposed to eradicate hunger in Southern Hemisphere countries, placing science and technology at the service of mankind, building a new world economic order, battling corruption, and nationalizing basic services for the benefit of people.

The president added that the bloc needed to move away from such traditional centers of power as the International Monetary Fund and the World Bank.

Bolivia will host a G77 summit in Santa Cruz on June 15 to commemorate the bloc's 50th anniversary.

The Group, established in 1964, is now a coalition of more than 130 developing UN member states plus China, and has more than 60 percent of the world's population.

The chairmanship, which sits atop the organizational structure of G77, rotates on a regional basis (between Africa, Asia-Pacific and Latin America and the Caribbean) and is held for one year only.