UN General Assembly
1988

Meanwhile, the conflict has had a devastating effect on the already serious financial and economic crisis in our country. It has exacerbated the economic woes imposed on our country through such factors as the world recession, the withholding of financial development treaty resources and the absence of internal structural adaptation measures at the budgetary and monetary levels. It is hence self-evident that our economic and social development has been seriously affected·, this has become manifest in the decline of national production, the decrease in investments, the staggering rise of unemployment and inflation rates the deterioration of the balance of payments and, consequently, the near exhaustion of our foreign-exchange reserves. My Government is of the opinion that these challenges and difficulties should be faced unequivocally by a collective will to find just and proper solutions. To that end, the framework for a multi-year recovery programme has been developed.