UN General Assembly
1996

the agreements already reached on the Middle East peace process, in accordance with the norms of international law. Since its inception, the United Nations has faced the challenge of facilitating effective international economic cooperation. However, we have yet to attain a satisfactory level where countries of the world can pursue prospects for development through the machinery of the Organization. Multilateralism is indispensable to the management of the process of the globalization of the world economy that is now going on. Major issues like foreign direct investment, currency stability, external debt problems, international trade and commodity price stabilization require durable multilateral cooperative arrangements. It is the hope of my delegation that the current work taking place at the United Nations on an Agenda for Development, the strengthening of the United Nations and prospective new modalities for financing operational activities for development will generate possibilities to implement fully the provisions of Chapter IX of the Charter of the United Nations. It is also the hope of my delegation that the reform of the Bretton Woods institutions will not