UN General Assembly
1985

First of all new credits have been requested to repay earlier debts, and higher interest rates and commissions have been accepted. The result has been more indebtedness than before. The anti-trust laws of the united States have been violated by the banks, which have joined in cartels to avoid free competition in the placement of credits. Likewise, federal credit laws have also been violated as banks have renegotiated with countries that they know are bankrupt? solely in order to ensure the payment of interest, waiving the payment of principal, which is the capital of the depositors. Secondly, and as a condition for this financial merry-go-round, the harmful terms of the International Monetary Fund have been accepted, directing our countries* economies towards debt repayment.