UN General Assembly
1984

125. The problem of debt must be attacked at its roots and in all its complexity. To begin with, the trend that has turned our countries into exporters of capital must be reversed. To this end, we call for the opening up of markets and the elimination of protectionist measures in the industrialized economies. It is also necessary to stabilize prices of raw materials and to reduce interest rates. Beyond reasonable percentages, income derived from exports cannot be committed to the servicing of debts. 126. It must be recognized that the debt crisis is linked to drastic changes in the conditions in which credit contracts were originally drawn up, particularly where liquidity and interest rates, the structure of the debt, and economic growth perspectives are concerned. These changes, which took place in the industrialized countries, demonstrate the joint responsibility of creditors and debtors.