UN General Assembly
1987

Peace is an indispensable prerequisite for development. Conversely, as long as poverty and backwardness continue to exist on earth, instability can hardly be avoided. At present the world economy, and more particularly the economies of the developing countries, are beset with extremely serious difficulties. The gap between the rich and the poor is steadily widening, with the per capita income of developed countries 12 times that of developing nations. The letter's external debt now exceeds 3öS 1 trillion. Primary commodity prices have fallen to their lowest level in the last 50 years. Balances of payments are plagued by acute deficits. Several developing countries are standing on the verge of economic collapse. In our interdependent world such a collapse would affect to no small extent the whole world economic system. In view of this situation, priorities at this forty-second session have to be based on ensuring long-term objectives, namely, the reform of international economic relations so as to move towards a new international economic order and an international system of economic security, and pressing immediate demands such as the burning issues of indebtedness, money and finance, as well as trade. All this requires from the international community, and in particular from developing countries, the most United and resolute action.