UN General Assembly
1987

Similarly, we hope to build on the consensus resolution, 41/202, adopted at the forty-first session, which recognized that the external debt crisis had already reached dangerous proportions and that an integrated approach involving creditor and debtor nations, multilateral financial institutions and international private banks was necessary if durable solutions were to be found to the debt problem. We welcome the growing realization in some quarters in the industrialized creditor countries that the case-by-case approach cannot provide a viable solution to the debt crisis. We are concerned at suggestions that seem to indicate that the free play of blind market forces alone can correct the imbalances in the international system by a process of automatic adjustment.