UN General Assembly
1972

77. Last week the International Monetary Fund at its annual meeting showed some awareness of the problem by setting up a committee of Governors in which the developing countries have increased representation. We consider that the link between the special drawing rights and additional development finance, which we have always advocated and the need for which has now been widely realized, should be established soon. 78. India participated, with great expectations, in the third session of UNCTAD, held in Santiago earlier this year. The need for taking speedy follow-up action on the decisions taken at that conference cannot be over-emphasized. It may be too early to attempt a final evaluation of the results of the conference, but clearly many trade and allied issues of great concern to the developing countries have remained unresolved. Continued efforts from all sides are therefore necessary if the high hopes that were entertained in respect of that conference are to be realized.