UN General Assembly
1989

Ten years ago, at the sixth summit conference of the non-aligned countries, Madagascar suggested the creation of a stabilization fund, a monetary fund and a development fund for the non-aligned countries and other developing countries. The international environment has changed since then, but our objectives are still the same: to achieve co-ordination on problems of international liquidity; to rebalance international trade, introducing equity and justice; to increase export earnings; and to recycle available resources for development purposes. The establishment of those three funds would be a good thing, bat it would be difficult. Vet we believe more than ever before that an integrated approach to development at the level of analysis and at the level of actual operations and functioning remains essential it we wish to rebuild the world economy on a firm basis of solidarity and mutual trust. These few ideas I have expressed on development and on the reluctance, if not the passivity, of both North and South may appear irrelevant if looked at from the standpoint of the real and immediate problems of international debt.