UN General Assembly
1988

The constant decrease in the available financial resources is a major obstacle to the third-world countries' efforts to ensure the recovery of their economies and development. We know that more than two thirds of those countries receive more than half of their export income from the sale of commodities. Hence, the international community must put into effect measures that can stabilize and fix the prices of raw materials at remunerative levels. It must also adopt a new international strategy for development based on greater justice and equity and providing for the harmonious growth of the world economy. That new strategy should envisage urgent and appropriate solutions to the questions of foreign debt and the constant decrease in the financial resources of the developing countries, in particular by a substantial alleviation of the debt, and even the cancellation of entire portions of it.