UN General Assembly
1985

The slowdown in the international economy has created Mounting tensions. The threat persists that the world economy will become fragmented as pressures increase to adopt protectionist measures that would do particular harm to the developing countries. Interest rates in the principal financial centers remain high and inhibit the channeling of resources into productive investments. Instability and speculation have persisted in the exchange markets. Today, faced with the hesitant evolution of the world economy, direction has been lost and prosperity has been jeopardized. Consequently, to the developing countries and particularly to Latin America, an international monetary system which, instead of creating certainty and productive investment, gives rise to the instability of exchange rates, inflation and speculation, is not acceptable. An international financial system which, instead of promoting a flow of resources that would contribute to economic and social development, gives rise to a greater concentration of wealth and the de-capitalization of countries that represent more than three fourths of the world population, is not acceptable.