UN General Assembly
1988

While the necessity for economic reform is widely accepted by developing countries, it has been observed that the reform process is a delicate activity that could cause great suffering in society and harm to the economy, particularly if it is pursued too vigorously without sufficient supporting measures. Indeed, some time ago, when my country adopted a wide-ranging reform programme agreed with the International Monetary Fund, we were forced to suspend its implementation when the mounting toll of human misery could no longer be justified. Many basic commodities became unaffordable to the ordinary members of society, as prices rocketed with the sudden removal of subsidies, exacerbated by a general wage freeze and a series of massive currency devaluations which left our currency greatly weakened.