UN General Assembly
1992

Indeed, unlike the industrialized countries, where we have seen a recovery in economic activity under the triple impact of a decrease in interest rates, the return of oil prices to a level close to that existing before the crisis and the effective coordination of economic policies, in developing countries the situation has been marked, overall, by continuing serious economic and financial difficulties, deterioration of the terms of trade, a scarcity of financial resources for private investment, debt burden and grave doubts regarding the conclusions of multilateral trade negotiations and the threat of protectionism. In order to prevent the profound imbalances augured by that situation, our countries agreed to carry out structural adjustment reforms in order to open themselves up more to the world economy. However, we remain convinced that in order to emerge from the crisis and at the same time save our democratic experience, international solidarity must be made manifest. It must develop rapidly and be equal to the problems to be solved. The international community must strive to free up, for the poorest