UN General Assembly
1978

250. Despite the numerous United Nations resolutions on the establishment of a new international economic order based upon equity, equality, interdependence and cooperation among all States, the international economic situation remains unchanged and constitutes a permanent source of concern for the developing countries. 251. We continue to witness a constant deterioration in the terms of trade, marked by a growing decline in the export prices of raw materials in the face of soaring prices for manufactured goods. 252. To the deficit in the balance of payments of third-world countries, which is something which is only getting worse, we should add the burden of their external debt-. 253. Furthermore, we note with bitterness and pain that the undertaking by the rich countries to devote 1 per cent of their gross national product to the transfer of resources by way of official assistance for the development of the third world is far from being realized. 254. We should add to this picture, which is already gloomy enough, the food problem, which has become critical in so many developing countries.