UN General Assembly
1988

The European Community and its member States believe that the evolving debt management strategy, which is based on a co-operative approach by all the parties concerned, remains the only viable response to the developing countries' debt problems. They continue actively to support attempts in all competent forums to find suitable growth-oriented solutions to the debt problems. Major initiatives have been taken since the last session of the General Assembly to strengthen and update the implementation of the debt strategy. In particular, the financial resources of the IMF, notably through the Enhanced Structural Adjustment Facility, the World Bank and the African Development Fund have been extended significantly. Following the conclusions of the recent Toronto economic summit, the poorest indebted developing countries should continue to benefit on a case-by-case basis from debt-service relief through the Paris Club.