UN General Assembly
1979

261. This situation is ominous for the world economy, and particularly for the economists of the developing countries, which depend on the export earnings of their raw materials, investments, and foreign assistance. The problems of indebtedness, of the decline in the prices of raw materials and of the deterioration of the terms of trade are particularly acute for developing countries. 262. As the Second United Nations Development. Decade is coming to a close we cannot but deplore the fact that most of the developed countries have not yet achieved the threshold of donating 0.7 per cent of their gross national product, as proposed by the General Assembly, for public development assistance. 263. The sixth special session of the General Assembly of the United Nations in 1974 recognized that the establishment of a new international economic order depended, inter alia, on the improvement of access to external markets and the stabilization of and guarantees for the main exports of the developing countries, as well as the pegging of prices of primary commodities to those of industrial products.