UN General Assembly
1988

Although the beginning of a new approach on the part of the industrialized countries towards alleviating the burden of third world indebtedness, extending repayment schedules and lowering interest rates was apparent at the recent Toronto summit meeting, that approach is not universal and we hope that it will not be an interim phenomenon. We call for more constructive co-operation from the industrially advanced countries in order to increase growth rates in the developing countries and alleviate their debt burdens, just as we call on those countries to show more flexibility and greater seriousness in negotiations on that matter.