UN General Assembly
1985

At another level, evidence of the demonstrated will of developing countries to address the problems they face is found in the reduction of the cumulative current account deficit. Developing countries have reduced that deficit by almost two-thirds from a high of over $105 billion in 1981 to just $35 billion in 1984. Even this? bald statistic does not do justice to the firmness of fiscal and monetary policies that have had to be introduced. The maturity and stamina of Governments have been tested and the heroic fortitude of the peoples of the third world has been demonstrated. As one prominent public figure from an industrial country has said: "The citizens of the developing world cannot be expected to tighten their belts indefinitely nor can debtor countries continue to be net exporters of capital ' We can clearly assert, therefore, that two key issues are protectionism and debt. The international community must ensure a trading environment which is free from tariff and non-tariff barriers against the products of developing countries.