UN General Assembly
1984

105. Italy, despite its own problems, has increased its bilateral efforts. We are convinced, however, that those efforts should be made in the context of international co-operation. We hope that such cooperation can assist in reviving the North-South dialogue. At the London Economic Summit, held from 7 to 9 June 1984, the Italian Government unequivocally reiterated its support for all initiatives likely to revive this dialogue. Also, we proposed that a world summit conference be held for a comprehensive and basic review of long-term North-South relations. 106. More decisive international action would seem to be necessary to tackle the core of the problem— that is, the indebtedness of the developing countries. More appropriate trade regulations must also be defined. Italy has already ratified the agreement for the increase in the quotas of the IMF and has agreed to the principle of the cancellation of the debts of the least developed countries, which have particularly serious balance-of-payments problems. For many years, Italy has been emphasizing in UNCTAD the need for the adoption of appropriate machinery to stabilize raw material prices.