UN General Assembly
1978

231. In the past few weeks we have laid the basis for the stabilization of our financial situation. The Government is beginning to confront the second major objective of this phase of historic transition. After certain corrective measures, at the cost of enormous austerity, an agreement has been reached with IMF to put our finances on a sound footing for a period ending in 1980. At the same time, agreement has been reached with our creditors in the international financial community on a programme of restructuring our external debt to alleviate the amounts and deadlines during that same period. These acts, which are now well advanced and represent a realistic and technical scheme, imply an equitable distribution of the inevitable shortages and consequently a policy of financial health, meeting the criterion of social justice. They will make it possible not only to rescue the productive forces in our vast resources, which are now blunted by the grave recession, but to bring about a climate of confidence and stability necessary for a selective and pragmatic revival.