UN General Assembly
1972

71. Our Government attaches particular importance to solutions which will be found to problems of commodities and all measures affecting access to markets J and price policies, including international machinery for the stabilization of prices, the effectiveness of existing international agreements on commodities, and any new agreements reached will be of the utmost importance to us. 72. The generalized system of preferences, in order to be more effective, should provide for the inclusion in its plans of all primary commodities which constitute the very basis of the economy of most developing countries. 73. We note with pessimism that government aid to the poorer countries is declining and that the burden of their debt is growing heavier. The recent devaluation of the dollar and the revaluation of other currencies resulted in raising the nominal value of the external debt of the third world, expressed in dollars.