UN General Assembly
1977

298. In view of these steps, the third world is clearly defining its positions: it calls for effective growth for all within the framework of a new organization of the world economic system, with, as elements of this system, the effective stabilization of earnings; better management and dissemination of technology; and the settlement of the problem of indebtedness in a way which would take account of the interests of all-and I repeat, all -of the countries of the Group of 77. 299. Economic revival and policies of reinvigoration in the northern countries and their success would merely mean the immediate re-emergence of selfishness, the suave mari magno, while the payments deficits of the third world pose and will continue to pose ever more inextricable problems of balance and financing. In this regard the new Witteveen facilities of $10 billion, handled by IMF, are an important step forward.