UN General Assembly
1982

Inter-national Monetary Fund [IMF] allocated for co-operation for developing countries be granted on more favourable terms and for the World Bank to increase Hs loans to those countries, which of course presupposes a strengthening of its means of intervention. 159. In my statement to the General Assembly at its thirty-sixth session [27th meeting]. I said that I placed great hopes in the International Meeting" on . Co-operation and Development at Cancun, which was supposed to launch the process of global negotiations. Unfortunately. those negotiations have not yet got under way. and millions of people who are calling for the establishment of a new international economic order fail to understand how this year again 'We have been unable to reach an agreement that would make it possible for the negotiations to begin. . 160. It is in order to mitigate the effects of this momentary failure in the North-South dialogue. a failure we all deplore, that the developing countries have been trying to organize regionally and sub-regionally. In our own sub-region, for example, on the initiative of El