UN General Assembly
1986

In view of the distressing state of affairs provoked by the economic crisis it may be stated confidently that the large burden of social tensions resting upon almost two thirds of the world's population as a result of this crisis constitutes a serious threat to international peace and security. It could be said without exaggeration that nearly all the Latin American and Caribbean countries have been seriously affected by the current economic and financial crisis. Among all the economic problems facing our nations, external indebtedness is becoming the most burdensome. According to reliable figures, Latin America will have to devote the equivalent of one third of its total export earnings to interest payments alone.