UN General Assembly
1981

120. The evolution of the developing countries' economies depends both on their own efforts and on the existence of favorable external conditions. They face today a series of outside pressures, as indicated by the financial problems pressing upon them. 121. The growing imbalance in developing countries' transactions apart from the oil countries with respect to the rest of the world during the seventies, has increased dramatically in the last two years. According to International Monetary Fund calculations, the current account deficit in 1980 rose to $82 billion, as against $38 billion in 1978. Estimates for the current year indicate that the deficit will approach $100 billion.