UN General Assembly
1989

The economic crisis facing the developing countries cannot, as experience has shown, be redressed by merely looking at only one aspect in isolation of other aspects. We have consistently stated that the most effective way to deal with the problem is to approach it in a global manner, addressing all of its aspects together, both from the perspective of the developing countries and also from that of the developed countries. Only in that way can a comprehensive and effective formula for solving the existing problems be reached. It is for this reason that my delegation looks forward to the special session of the General Assembly on economic co-operation to be held in April 1990. It is our sincere hope that the special session will provide an opportunity for the creditor nations of the North and the debtor States of the South to work together in finding better solutions to these problems. As has been observed by economic and development experts, the problems currently afflicting developing States have an equally negative impact on the economies of the developed. A resolution of these problems would therefore be of mutual benefit to all. The onus of finding an effective solution is ipso facto, the mutual responsibility of both developed and developing countries.