UN General Assembly
1988

Clearly, such an anomalous situation cannot be sustained. The community of nations, therefore, has no alternative but to elaborate a new and comprehensive strategy that takes into account the capacity of debtor countries to repay their debt to developed countries and financial institutions and at the same time allows room for economic growth. I suggest that the search for such a strategy is not beyond the collective imagination, capability and wisdom of this Assembly. The major multilateral financial institutions, particularly the World Bank and the International Monetary Fund, must play a more constructive, supportive and progressive role in the global economy. They must critically examine their portfolios and disbursement practices. In keeping with their influence and prestige, they must respond to the demands of a constantly changing global economic environment.