UN General Assembly
1965

211. Consequently, if the monetary system is to be revised, both the views of the advanced countries and those of the developing countries must be taken into consideration. It would be a grave mistake to attempt to dictate monetary laws for the entire world from within a small group of countries. It would be even more misguided to think that the developing economies should obey monetary doctrines which the advanced economies did; not follow in their own initial stages. It should also be borne in mind that the developing countries are not so much concerned with deciding which should be the reserve currencies as with their own ability to obtain them at any time. Obviously if non-liquidity is maintained for this purpose, the question of which reserve instruments are used is of no account.