UN General Assembly
1988

The economic crisis besetting the developing countries does not allow them even to solve their food deficit. At the same time, all of them are in a situation in which they cannot comply with their foreign debt obligations and the servicing of that debt, the majority are becoming increasingly dependent on elements outside their region, and their development is accordingly blocked. In this context, the urgent convening of an international conference on the African foreign debt, in accordance with the decision of the Heads of State and Government of the Organisation of African Unity (OAU), is of the highest importance to our countries. These measures have not contributed effectively throughout the years to narrowing the gap between developed and developing countries, or to diminishing the economic and social imbalances existing in the world.