UN General Assembly
1984

164. But the evolution over the past two years has tended to discourage investment: interest rates are high, exchange rates are unstable, the banks that provided most of the financing have lost confidence. In 1983, for the first time, the net flow of capital towards the South was negative. No further comment is necessary. 165. Meanwhile, the international meetings that have followed one on the heels of another have at best succeeded in providing a timid analysis of the phenomenon—the sixth session of the United Nations Conference on Trade and Development, held at Belgrade in 1983; the Fourth General Conference of the United Nations Industrial Development Organization, held at Vienna last August. International assistance funds are declining in real value: the replenishment of aid is inadequate; UNDP has had to cut back on its commitments. France stands out as an exception because we have increased official development assistance over the past three years; we are alone or almost alone in this.