UN General Assembly
1969

which militates against our economic growth and any improvement in our levels of living. 107. it is ironic to note that, in the final analysis, the so-called under-developed nations are acting as exporters of capital to the regions that are more advanced and have a greater accumulation of wealth, as a result of the servicing of foreign debts and remittances abroad from foreign investments. 108. We recognize the need for the participation of foreign capital; we acknowledge its interest in obtaining reasonable profits and we guarantee the stability of its operations; but an analysis of the methods with which it has been working convinces us of the need to search for new arrangements compatible with local priorities, so that such investments may contribute effectively to the mobilization of internal resources, to the generation of national savings and to an improvement in the technological level of our countries. 109. Such objectives are consistent with a realistic policy of structural transformation such as that which is being carried out by the Government of Peru, and which