A/RES/43/198 GA

148 General Assembly-Forty-third Session and development effort required to implement such recommendations, and indicate financia) requirements for their implementation, together with a definition of possi- ble sources for such financing, l. Decides to consider at its forty-fourth session the question of the convening of a United Nations conference on the subject of the present resolution no later than 1992, with a view to taking an appropriate decision at that ses- sion on the exact scope, title, venue and date of such a con- ference and on the modalities and financia) implications of holding the conference; 2. Requests the Secretary-General, with the assistance of the Executive Director of the United Nations Environ- ment Programme, urgen ti y to obtain the views of Govern- ments on: (a) The objectives, content, title and scope of the con- ference; (b) Appropriate ways of preparing for the conference; (e) A suitable time and place and other modalities for the conference; and to submit those views to the General Assembly at its forty-fourth session, through th~ Economic and So~ial Council, and to make them available to the Govermng Council of the United Nations Environment Programme at its fifteenth session; 3. A/so requests the Secretary-General, with the as- sistance of the Executive Director, to obtain the views of appropriate organs, organizations and programmes of the United Nations system and relevant intergovemmental and non-governmental organizations on the objectives, content and scope of the conference, and to submit those views to the General Assembly at its forty-fourth session, through the Economic and Social Council, and to make them available to the Governing Council at its fifteenth session; 4. Further requests the Secretary-General, with the as- sistance of the Executive Director, to prepare a statement of the financia) implications of preparing and convening the conference, and to submit that statement to the Gen- eral Assembly at its forty-fourth session, through the Eco- nomic and Social Council, and to make it available to the Governing Council at its fifteenth session; 5. Invites the Goveming Council to consider the docu- ments referred to in paragraphs 2 to 4 above and, on the basis of that consideration, to submit to the General As- sembly at its forty-fourth session, through the Economic and Social Council, its views on the matters referred to in the present resolution, in particular its views on the objec- tives, content and scope of the conference. 83rd plenary meeting 20 December 1988 43/197. Fulfilment of the target for official development assistance The General Assembly, . 'nting that the problem of increasing poverty in devel- oping countries can only be solved effectively through policies aimed at sustained economic growth and develop- ment and that transfers of financia) resources to develop- ing countries are important for achieving those objectives, Stressing, in this context, that official development assistance plays an jmportant role for developing coun- tries, particularly for the poorest among them, Referring to the target of O. 7 pe~ cent of th_e gross na- tional product of developed countnes for offic1al develop- ment assistance, adopted by the General Assembly m resolution 2626 (XXV) of 24 October 1970 on the Interna- tional Development Strategy for the Seco_nd_ United Na- tions Development Decade and reaffirmed m 1ts resolut10n 35/56 of 5 December 1980 on the International Develop- ment Strategy for the Third United Nations Development Decade, Concerned that total official development assistance, as a percentage of the gross national l?ro?uct of developed countries, has stagnated at a leve! s1gmficantly below the target of O. 7 per cent, Stressing the need to continue to improve the quality of official development assistance, Recalling the increased demands on multilateral devel- opment institutions to play a major role in addressing the development problems of developing countries, l. Reaffirms the agreed target of O. 7 per cent of the gross national product of de~elop~d countries f<;>r official development assistance contamed m the Internat10nal De- velopment Strategy for the Third United Nations Devel- opment Decade, as adopted; 2. Expresses its appreciation to those donor countries that have airead y achieved the target of O. 7 per cent, or have increased their official development assistance with a view to achieving that target, and urges them to continue their efforts; 3. Appeals to donor countries that have not yet reached the target of O. 7 per cent to make their best efforts to reach itas quickly as possible by pursuing specific meas- ures that will make their efforts more effective, taking into account the necessity of improving the quality of official development assistance; 4. Stresses the importance of achieving the target of O. 15 per cent of the gross national product of donor coun- tries for official development assistance for the least devel- oped countries, or doubling official development assist- ance to those countries, in compliance with the Substan- tial New Programme of Action for the 1980s for the Least Developed Countries4 and the conclusions of the mid- term global review of progress towards the implementa- tion of the Substantial New Programme of Action;58 5. Requests the Director-General for Development and International Economic Co-operation to include in- formation on compliance with the present resolution in his report for the triennial policy review of operational activi- ties for development. 83rd plenary meeting 20 December 1988 43/198. Externa! debt crisis and development: towards a durable solution of the debt problems The General Assembly, Reca/ling its resolutions 41/202 of 8 December 1986 on strengthened international economic co-operation aimed at resolving the externa) debt problems of developing countries and 42/198 of 1 I December 1987 on furthering international co-opcration regarding the externa! debt problems, sx Re,olution 40/20'.\. anné~ V. Resolutions adopted on the reports of the Second Committee 149 Recalling Trade and Development Board resolu- tions 165 (S-IX) of 11 March 1978,59 222 (XXI) of 27 September 198031 and 358 (XXXV) of 5 October 1988f2 and the relevant recommendations of the mid-term global review of progress towards the implementation of the Substantial New Programme of Action for the l 980s for the Least Developed Countries, 58 Recalling the Final Act adopted by the United Nations Conference on Trade and Development at its seventh ses- sion,27 Recognizing that the deteriorating economic situation faced by those developing countries with a heavy debt bur- den, which constitutes a major obstacle to their economic growth and sustained development, can be a threat to their economic, social and política! stability, Emphasizing that the world-wide impact and the wide range of implications of indebtedness of developing coun- tries on today's increasingly interdependent world economy can be a threat to the política! stability of those countries, Recognizing that, in the present circumstances, adjust- ment efforts are needed on the part of ali countries, collec- tively and individually, each country contributing to the common objective in accordance with its capacities and weight in the world economy, while concern remains about the political and social implications associated with the structural adjustment programme in indebted devel- oping countries, Welcoming the increasing acceptance of further diversi- fying the range of options that, in ter alia, reduce the stock and service of debt and con tribute to the achievement of a durable solution to the externa! indebtedness of develop- ing countries, Acknowledgingthe continuing need for strengthening ef- fective international co-operation in order to resolve the problem of externa! indebtedness of developing countries on a durable, equitable and mutually agreed basis, in par- ticular through improvemen1 in the international eco- nomic environment, Noting that, although efforts have been made by the in- ternational community to deal with the debt problem, it is essential, owing to the gravity of the problem, to reaffirm the shared responsibilíty of ali parties involved, Deeply concerned that debt-service obligations remain high, that the factors determining the capacity to pay have not moved in consonance with the debt-service obligations ofthe majority of developing countries, and that prospects for reducing the adverse effects of the debt burden on the development process in developing countries continue to be uncertain, Noting with concern that the net outflow of financial re- sources from developing countries as a whole, exacerbated by the debt crisis and the deterioration in the terms of trade, deprives those countries of resources needed for fi- nancing their growth and development, 1. Expresses its appreciation to the Secretary-General for his involvement in the debt issue and for his report en- titled "Towards a durable solution ofthe debt problem";60 2. Stresses that the debt crisis in an increasingly inter- dependent world economy has a wide impact, often with política! implications, having a bearing not only on rela- tions between creditors and debtors hut also on prospects 59 Official Records of the General Assemhly. Thirty-third Session, Supp/ement No. 15 (A/33/15), vol. 1, part two. annex l. r,o A/43/647. for the world community as a whole, thereby requiring a hroad approach with política! ímpetus and continued close co-operation; 3. Expresses deep concern that the overall indebtedness of debtor developing countries has persisted and often in- creased, that their growth and development are severely limited, and that their economic and social prospects con- tinue to be a cause of serious concern; 4. Stresses that a supportive international economic environment, together with a growth-oriented develop- ment approach, is needed for supporting the efforts of debtor developing countries in dealing with their externa! indebtedness and alleviating the political and social costs of structural adjustment programmes and adjustment fa- tigue, thus contributing to the restoration of their eco- nomic growth, development and credit-worthiness; 5. Urges the international community to continue to search, through dialogue and shared responsibility, for a durable, equitable and mutually agreed growth-oriented and development-oriented solution to the externa[ indebt- edness of developing countries; 6. Invites the multilateral financia! institutions to con- tinue to review conditionality criteria, taking into account, ínter alia, social objectives, growth and development pri- orities of developing countries and changing conditions of the world economy, and stresses further the need for in- creased co-operation between the International Monetary Fund, the World Bank and other multilateral financial in- stitutions, which should not lead to cross-conditionality; 7. Reaffirms that a major objective of any debt strategy should be that debtor developing countries achieve an ade- quate leve! of growth sufficient to enable them to satisfy their social, economic and development needs, which will in turn enhance their ability to service debt, and urges ali concerned parties to develop new ways and means to sus- tain effectively policies aimed at attaining such a leve! of growth; 8. Recognizes that efforts to resolve the debt problem should include policies in creditor countries and debtor countries that are supportive of export growth and diver- sification in the latter; 9. Recognizes that there is need to broaden further the range of approaches that, in ter alia, reduce the stock and service of debt, including expansion of the scope and im- plementation of currently utilized financia! techniques; JO. Recognizes that the externa! indebtedness of sorne other countries with !>erious debt-servicing problems gives rise to considerable concern, and invites ali those in volved to take into account, as appropriate, the above provisions in addressing those problems; 11. Requests the Secretary-General to continue his ef- forts, through a process of high-level consultations, as ap- propriate, with heads of State or Government and other parties concerned, to contribute to a common understand- ing on a solution to the external indebtedness of develop- ing countries in the context of their growth and develop- ment: 12. Also requests the Secretary-General to take any other appropriate measures for the implementation of the present resolution and to report thereon to the General Assembly at its for1y-fourth session. 83rd plenary mt'cting 20 Decem ba l 988

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