UN General Assembly
1990

Costa Rica further considers it fundamental that in numerous aspects the implementation of measures proposed by international financial institutions for dealing with the problems faced by third world countries in meeting their obligations carries with it a very high social price tag. Little progress can be made with such policies if the only thing to emerge from them are the elements of new crimes, more poverty, more unemployment, less production, less education, less health and less housing. My country fervently urges the Governments of the developed countries whose voices are decisive in international financial organizations to bring their influence to bear on this problem and to bring about a change in attitude within these organizations. The international financial community can no longer ignore the aspect of the social cost if it truly wants readjustment policies to be successful. Technical criteria cannot qualify as such if they fail to take into account the social and human factors involved. Similarly, the policy of co-operation with the third world implemented by the majority of the developed countries would be meaningless if those same nations were at the same time to encourage international financial organizations to adopt an indifferent stance vis-à-vis the social costs to the third world of implementing the proposal emerging from such institutions. We emphasize that we are not seeking to elude our responsibilities but, rather the find, together, the formula least detrimental to all of us.