UN General Assembly
1977

153. Faced with these developments, my Government has decided to reduce public expenditure drastically, to promote domestic savings and to seek more realistic domestic price levels, without compromising the basic needs of the major sectors of the population, to whose improvement the process of change which the Revolutionary Government has initiated and is promoting is precisely directed. At the same time, my Government has decided to honour its external debt obligations, a practice which has constantly followed and one concerning which it hopes to find the necessary response in the financial community.