Immediate measures in favour of the most seriously affected countries.

34. RESOLUTIONS ADOPTED ON THE REPORTS OF THE SECOND COMMITTEE
217. Immediate measures in favour of most seriously affected countries

The General Assembly, Recalling that, by its resolution 3202 (S-VI) of I May 1974, it decided to launch a special programme to provide emergency relief and development assistance to the developing countries most seriously affected by the economic crisis, as a matter of urgency and for the period of time necessary, at least until the end of the Second United Nations Development Decade, to help them to overcome their difficulties and to achieve self-sustaining development, Recalling also that, in its resolution 3362 (S-VII) of 16 September 1975 on development and international economic co-operation, it called upon donor countries and international organizations to take specific measures to assist the most seriously affected countries in meeting their serious balance-of-payments deficits, Noting with concern that the special programme in general remained largely unfulfilled, Mindful of the inadequacy of concessional multilateral and bilateral assistance to developing countries identified as most seriously affected,[1] despite efforts made by the international community, Noting with deep concern the deterioration of the economic and financial situation of those developing countries which, given their low per capita income as a reflection of relative poverty, low productivity and low level of technology and development, merit consideration as most seriously affected by the current economic crisis caused by sharp increases in the prices of their essential imports,

1. Requests the Secretary-General, in close cooperation with the appropriate organs, organizations and bodies of the United Nations system, to review and study speedily the situation of those developing countries which, given their low per capita income as a reflection of relative poverty, low productivity and low level of technology and development, merit consideration as most seriously affected by the current economic crisis caused by sharp increases in the prices of their essential imports, to submit a preliminary report to the Committee of the Whole Established under General Assembly Resolution 32/174 at its first substantive session in 1980, as well as to the Preparatory Committee for the New International Development Strategy at its fourth session, and to include a final report in the analytical report to the Assembly at its special session in 1980;

2. Calls upon all donor countries, in the meantime, to consider extending relief and assistance to those countries which may be most seriously affected by the current economic crisis, bearing in mind immediate balance-of-payments and development needs; to this end, urgent consideration should be given, inter alia, to the following measures:

(a) Making their best efforts to increase substantially financial assistance on grant or highly concessional terms in the context of the commitments entered into by the United Nations Conference on Trade and Development at its fifth session;

(b) Developed countries which have not yet done so should take steps as quickly as possible to apply the conclusions approved under section A of Trade and Development Board resolution 165 (S-IX) of 11 March 1978 ;[2]

(c) Provision of financial assistance on favourable terms, inter alia, to meet their food deficit and agricultural development requirements;

(d) Industrialization efforts should receive a due share of the resources transferred to those countries, taking into account their development priorities;

3. Notes that the International Monetary Fund is studying the possibility of establishing an interest subsidy for the Supplementary Financing Facility, that the Development Committee has requested the Executive Board of the Fund to give attention to developing ways and means of lowering the interest costs of the Supplementary Financing Facility and that the Fund has recently extended the maturities of drawings on the Extended Financing Facility, and invites the Fund to give consideration to proposals in those areas;

4. Invites the International Monetary Fund to take into account, within the context of its financing facilities and guidelines, the adverse balance-of-payments effects caused by the rise in the food import bills of those countries which may be most seriously affected by the current economic crisis;

5. Invites the multilateral development and financial institutions to give special attention to the development and immediate balance-of-payments needs of those countries which may be most seriously affected by the current economic crisis; in that context, appropriate bodies in the International Monetary Fund and the World Bank are invited to continue to consider within their respective fields of competence the relevant proposals contained in the Outline for a Programme of Action on International Monetary Reform adopted by the Group of Seventy -seven at its ministerial meeting held at Belgrade on 29 September 1979 [3]

109th plenary meeting
19 December 1979

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[1] According to the definition in section X of resolution 3202 (S-VI). [2] Official Records of the General Assembly, Thirty-third Session, Supplement No. 15 (A/33/15 and Corr.1), vol. 1, part two. annex I. [3] See A/C.2/34/13.