UN General Assembly
1989

The disparities in economic development between developed and developing countries is deepening constantly, while the economic and social situation in most developing countries continues to deteriorate further. The plight of the least developed countries has reached a particularly distressing level because the Substantial New Programme of Action for the 1980s for the Least Developed Countries has not been implemented. Growth and development in developing countries continue to be mostly stagnant or to register negative rates. Commodity prices remain low and terms of trade are worsening, and protectionist measures on the part of developed countries have been on the increase. The problem of debt and debt servicing has become unbearable for developing countries, resulting in a net flow of financial resources from developing to developed countries. We welcome the convening in April 1990 of a special session of the General Assembly and hope the fourth United Nations Development Decade will reverse the adverse trends experienced during the Third Decade.