UN General Assembly
1977

29. The year 1977 has demonstrated the continued process of the recovery of the world economy, and particularly the recovery of the most significant of the developed economies. The importance of that recovery is clear for my Government, since we need the highest possible level of international consumption for our goods. However, the most fortunate of the developed countries should not forget that that recovery was possible only at high cost to the developing countries, reflected in higher unemployment and underemployment, and in the greater prevalence of outside factors in the inflationary process. 30. We believe that a reasonable price stability must be the target for the immediate effort of the international economic system. That stability, nevertheless, must not be interpreted as an obligation for the developing countries to maintain the situation of economic injustice to which they have been subjected. On the contrary, our greater importance in international trade should be sufficient reason to encourage all sectors to seek more equity in the benefits of the international economic activities.