UN General Assembly
1954

67. If this is what is taking place in the field of production, let us see what has happened in that of international co-operation. During the period 1950-1953, net capital investment in Latin America amounted to an annual average of $421 million which, allowing for certain credit operations carried out for the purpose of adjusting the balance of payments, made up a total flow of capital of less than $530 million per annum. Of this amount, less than $80 million were furnished by international credit agencies, the remainder consisting of private investment. The total volume of public investment in Latin America during the same period amounted to $2,240 million; thus the contribution of international credit agencies to the whole of Latin America represented only 3 per cent of the total investment. Moreover, 56 per cent of the so-called “flow of private capital” resulted from the re-investment of profits; it did not represent fresh capital.