unitex@rubbs.fidonet.org (unitex) (10/11/89)
UN SECOND COMMITTEE HEARS 10 MORE SPEAKERS
Posting Date: 10/09/89 Copyright UNITEX Communications, 1989
UNITEX Network, USA ISSN: 1043-7932
The Second Committee (Economic and Financial) continued its
debate on the world economic situation this morning, hearing 10
speakers.
Statements were made by the representatives of Nepal, Austria,
Poland, Sudan, Japan, Venezuela, Turkey, Philippines, Viet Nam
and Colombia.
Various representatives stressed the need for improved
international economic co-operation and a resolution to the debt
crisis, and hoped the 1990 special session of the General
Assembly and the international development strategy for the
fourth United Nations development decade would provide a basis
for attaining those objectives.
The Committee will continue the debate on the world economic
situation when it meets today at 3 p.m.
Committee Work Programme
The Second Committee (Economic and Financial) met this morning
to continue its debate on the world economic situation.
Statements Made
MANA RANJAN JOSSE (Nepal) expressed deep concern about the
present world economic situation, particularly the widening gap
between developed and developing countries. He supported the
recommendations made by the Chairman of the Group of 77 in his
statement before the Committee on Tuesday, 3 October,
particularly the points concerning the least developed
countries. Given the increasing interdependence in the world
economy, it was urgent to resume the North-South dialogue on
international economic co-operation.
Reviewing major trends in the world economy, he detected a "sense
of unease" about the worsening terms of trade, negative transfer
of resources and problems relating to external indebtedness. He
called on the international community to devise a comprehensive
strategy based on growth, development and shared responsibility
that would result in debt reduction. Referring to the special
needs and problems of least developed countries, which had been
devastated by the present inclement world economic climate, he
expressed hope that the Second United Nations Conference on
Least Developed Countries, scheduled to meet in Paris next year,
would identify and adopt policies and measures to accelerate
development in those countries throughout the next decade.
Land-locked developing countries, such as Nepal, were a
particularly vulnerable group of nations, he said. Although
those problems had been addressed in several resolutions and
documents of the United Nations specialized agencies, the
international community needed to increase assistance to help
land-locked countries cope with the adverse effects of that
debilitating geographical handicap.
HELMUT BOECK (Austria) said many developing countries had
experienced difficulties in borrowing abroad and a fall in net
flows of official credit, with an overall drop in debt-to-export
ratios. As a group, the developing countries had experienced
the highest growth rate in the past decade, but inflation had
accelerated, reflecting the difficulties of implementing
monetary and fiscal policies in many heavily indebted countries.
The most important lesson to be drawn from past experiences
seemed to be the recognition that constructivist approaches in
the sense of a centrally managed world economic system had
failed.
Reform and structural adjustment policies had become a hallmark
of economic policy during the 1980s, he said. Sound domestic
policies were the precondition for economic success, which also
required a favourable climate for investment. The policy
framework had to provide for infrastructure, education and a
free society based on the rule of law. International
co-operation with regional partners was also important for
economic success. Thus, Austria had applied for membership in
the European Economic Community
(EEC), which would be fully compatible with maintaining Austria's
status of permanent neutrality.
International trade remained an important factor of increased
economic interdependence, as well as a key element of the
development process, he said. The continuing Uruguay Round of
trade negotiations presented a unique opportunity to meet the
challenges of the increasing globalization of economic problems,
through global freedom of trade and strong stimulation of private
sector activities. The development efforts of the developing
countries could be enhanced by improved access to the markets of
industrialized countries. International support was needed to
alleviate the debt crisis. The central role of the
international financial institutions should be acknowledged, but
the mobilization of non-governmental resources required
encouragement.
STANISLAW PAWLAK (Poland) said that despite a growing awareness
of global interdependence, the growth in some countries was
paralleled by stagnation or regression in others. Adjustment
efforts had so far produced mixed results but had not prevented
economic decline, especially in Africa and Latin America.
Decisions about resolving new international problems had been put
off during the 1980s, a decade lost to development. Social and
economic development was now the central issue of the times.
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