A/RES/42/198 GA

V. Resolutions adopted on the reports of the Second Committee 167 ANNEX Proposed disposition of the staff of the United Nations Institute for Training and Research Post I. Executive Director (who will also serve as a Programme Officer) 2. Programme Officer (New York) 3. Programme Officer (Geneva) 4. Administrative and Finance Officer 5. Three General Service staff 42/198. Furthering international co-operation regard- ing the external debt problems The General Assembly, Reaffirming its resolution 41/202 of 8 December 1986 on strengthened international economic co-operation aimed at resolving external debt problems of developing countries, Recalling the Final Act adopted by the United Nations Conference on Trade and Development at its seventh ses- sion, held at Geneva from 9 July to 3 August 1987,2 Recalling Trade and Development Board resolutions 16S (S-IX) of 11 March 197890 and 222 (XXI) of 27 Sep- tember 198091 and the relevant recommendations of the mid-term global review of progress towards the implemen- tation of the Substantial New Programme of Action for the 1980s for the Least Developed Countries,88 Concerned about the slowing down of the world economy in the 1980s and the persistence of large imbal- ances, which was noted at the meetings of the Interim Committee of the Board of Governors on the Interna- tional Monetary System and the Joint Ministerial Com- mittee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries in September 1987, Recognizing that the continuing debt problems of devel- oping countries have become a major obstacle that re- stricts their economic recovery and long-term develop- ment, thereby increasing the vulnerability of the international financial system and adversely affecting the ability of debtor countries to import and creditor countries to export and thereby their growth and employment per- formance, Deeply concerned at the increasing debt burden and the deteriorating debt situation of African countries, which impede the recovery and development of the continent and the implementation of the United Nations Pro- gramme of Action for African Economic Recovery and Development 1986-1990,60 Noting that there has been an evolving response from the international community to the debt problem, which recognizes the shared responsibility of the main parties concerned, namely developing debtor countries, devel- oped creditor countries, private and multilateral financial institutions, Profoundly concerned that, despite significant efforts by developing countries to deal with the debt crisis, the desired results have not yet been achieved and therefore acknowledging the need for continued and evolving inter- national co-operation, particularly to improve the interna- 90Official Records of the General Assembly, Thirty-third Session, Suffilement No. 15 (A/33/15), vol. 1, part two, annex I. Ibid., Thirty-fifth Session, Supplement No. 15 (A/35/15), vol. II, annex 1. tional economic environment, in order to attain a lasting solution to the problems of indebtedness of developing countries, Welcoming the report of the Secretary-General on the international debt situation in mid-1987,92 1. Endorses the policies and measures agreed upon and spelt out in section II.A of the Final Act adopted by the United Nations Conference on Trade and Development at its seventh session,2 entitled "Resources for development, including financial and related monetary questions"; 2. Expresses concern that external debt problems can pose a threat to economic, social and political stability in indebted countries; 3. Stresses that debtor developing countries, creditor developed countries and international private and mul- tilateral financial institutions should strengthen work on an evolving and growth- and development-oriented strategy, through continuous dialogue and shared respon- sibility, in order to attain a durable, equitable and mutu- ally agreed solution to debt problems; 4. Reiterates that specific measures to deal with the in- debtedness of developing countries should pay particular regard to the relevant factors of the debt-servicing capacity of each individual country; 5. Also reiterates that, in the present circumstances, adjustment efforts are needed on the part of all countries, collectively and individually, each country contributing to the common objective in accordance with its capacities and weight in the world economy; 6. Reiterates that it is essential for the international economic environment to be made more stable and pre- dictable in support of growth through efforts by the major market economy countries, including strengthened mul- tilateral surveillance, aimed at correcting existing external and fiscal imbalances, promoting non-inflationary sustain- able growth, lowering real rates of interest and making ex- change rates more stable and markets more accessible; 7. Further reiterates that it is essential for debtor devel- oping countries to pursue and intensify their efforts to in- crease savings and investment, reduce inflation and im- prove efficiency, taking into account their own individual characteristics and the vulnerability of the poorer strata; 8. Reiterates that it is essential that external financing from official and private sources be increased on appropri- ate terms and conditions in support of these efforts; 9. Recognizes the competence of multilateral financial institutions and the need for providing them with the ade- quate resources and instruments necessary, inter alia, to strengthen their contribution to attaining a durable, equi- table and mutually agreed solution to the debt problems and, in this context, takes note with interest of: (a) The agreement on a substantial general capital in- crease for the World Bank; (b) The initiative by the Managing Director of the In- ternational Monetary Fund to increase substantially the resources of the Structural Adjustment Facility; (c) The work towards an increase of quotas in the con- text of the Ninth General Review of Quotas in the Interna- tional Monetary Fund; (d) The proposal to enlarge the scope of the Compen- satory Financing Facility by the creation of a new external contingency facility; 92 A/42/523. 168 General Assembly-Forty-second Session (e) The ongoing examination of adjustment pro- grammes and their supportive arrangements, including a comprehensive review of conditionality in the Interna- tional Monetary Fund; I 0. Stresses that increased flexibility should be applied by the parties concerned in the development of innovative approaches to reduce the debt burden of developing coun- tries, including, as appropriate, the identification of possi- ble regulatory impediments, and that measures such as the introduction of various forms of new financial instruments and of formulas that do not add to the stock of debt, in- cluding those devised by banks and debtors to take advan- tage of discounts prevailing in the secondary market, should be further pursued, and emphasizes that banks should be encouraged to co-operate flexibly with debtor countries according to individual circumstances to achieve this end; 11. Calls upon the international community to con- tinue its efforts, in the context of official debt restructuring exercises, to take appropriate and realistic measures to reduce the burden of official debt, adapted to the specific needs and circumstances of individual countries, inter alia, so as to allow an adequate planning horizon and long- term adjustment; consideration should be given to un- foreseen changes in a country's external payments; 12. Urges the international community to give serious consideration to mutually agreed ways and means of as- sisting debtor developing countries faced with large and bunched debts to the multilateral financial institutions, taking into account the need for increased capital flows on terms adapted to their payment situation and the specific economic circumstances of individual countries; 13. Calls upon the international community to inten- sify its efforts to provide the necessary resource flows to African countries, including increasing official develop- ment assistance in support of their reform efforts, and to continue its efforts to grant adequate terms of reschedul- ing and other effective debt relief measures, as appropri- ate, to alleviate the debt burden; 14. Stresses that urgent specific actions in respect of the indebtedness of the least developed and poorest devel- oping countries are required, as contained in the relevant provisions of the Final Act adopted by the the United Na- tions Conference on Trade and Development at its seventh session, including substantial increases of concessional fi- nance, essentially in grant form; 15. Recognizes that the problems of external indebted- ness of some other countries with serious debt-servicing problems also give rise to concern, and invites all those in- volved to take into account, as appropriate, the above in addressing these problems; 16. Stresses the importance of the expansion of world trade and the promotion of a climate conducive to the strengthening of an open and liberalized trading system, including, in particular, the improvement of market access for developing countries' exports, and, in this context, stresses the importance of ensuring effective observance of standstill and rollback commitments and the importance of promoting improved commodity markets; 17. Requests the Secretary-General, in preparing the agenda for the next session of the Administrative Commit- tee on Co-ordination, to propose that due priority be given to the consideration of the issue of the external debt crisis and development in the Committee's discussions of the in- ternational economic situation; 18. Requests the Secretary-General to consult with the relevant bodies and eminent personalities to prepare a comprehensive report on the international debt situation, reviewing also ways and means of advancing the efforts towards finding a durable, equitable and mutually agreed solution to the debt problems of developing countries in the light of the relevant provisions of the Final Act adopted by the United Nations Conference on Trade and Development at its seventh session and of the present reso- lution, to be submitted to the General Assembly at its forty-third session. 96th plenary meeting 11 December 1987 42/199. Assistance for the reconstruction and develop- ment of Lebanon The General Assembly, Recalling its resolutions 33/146 of 20 December 1978, 34/135 of 14 December 1979, 35/85 of5 December 1980, 36/205 of 17 December 1981, 37/163 of 17 December 1982, 38/220 of20 December 1983, 39/197 of 17 Decem- ber 1984, 40/229 of 17 December l 985 and 41/196 of 8 December 1986, Recalling also Economic and Social Council resolutions 1980/15 of 29 April 1980, 1985/56 of 25 July 1985 and 1986/46 of 22 July 1986, and decisions 1983/112 of 17 May 1983 and 1984/174 of 26 July 1984, Noting with deep concern the grave deterioration of the economic situation in Lebanon, Welcoming the determined efforts of the Government of Lebanon in undertaking its reconstruction and rehabilita- tion programme, Reaffirming the urgent need for further international ac- tion to assist the Government of Lebanon in its continuing efforts for reconstruction and development, Considering that filling the vacant post of United Na- tions Co-ordinator of Assistance for the Reconstruction and Development of Lebanon would facilitate the normal operations of international assistance to Lebanon, Taking note of the report of the Secretary-General93 and of the statement made on 15 October 1987 by the Under- Secretary-General for Political and General Assembly Af- fairs and Secretariat Services,94 1. Expresses its appreciation to the Secretary-General for his report and for the steps he has taken to mobilize as- sistance to Lebanon; 2. Commends the Under-Secretary-General for Politi- cal and General Assembly Affairs and Secretariat Services for his co-ordination of system-wide assistance for Leba- non; 3. Requests the Secretary-General to continue and in- tensify his efforts to mobilize all possible assistance within the United Nations system to help the Government of Lebanon in its reconstruction and development efforts; 4. Invites the Secretary-General, in view of the critical economic conditions prevailing in Lebanon, to consider the urgent need to appoint a United Nations Co-ordinator of Assistance for the Reconstruction and Development of Lebanon so that the functions of the Co-ordinator may be resumed in Lebanon; 5. Requests the organs, organizations and bodies of the United Nations system to intensify their programmes of assistance and to expand them in response to the needs of 93 A/42/553 and Corr. I. 94 See Official Records of che General Assembly. Forry-second Session. Second Commictee, 15th meeting, and corrigendum.

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