28 July 1989

37th plenary meeting

Net transfer of resources from developing countries and its impact on their economic growth and development

The Economic and Social Council,

Deeply concerned by difficult economic conditions confronting developing countries that undermine their development potential and by sharp declines in the standard of living of a large number of people,

Concerned that difficult financial situations in developing countries, including net transfers of resources, are limiting them in the utilization of their own resources for investment, for much needed social programmes and for the reactivation of their per capital economic growth and development,

Emphasizing that the efforts being undertaken by developing countries to foster sustained economic growth, although important, cannot succeed in reactivating growth and development without a favourable international economic environment,

Requests the Secretary-General to include in the World Economic Survey, 1990 a more comprehensive analysis of the transfer of resources to and from developing countries, the main factors affecting such transfers and their impact on the growth and development of developing countries, presenting alternative hypotheses on the future evolution of this issue, taking into account recent developments in the world economy and distinguishing between both gross and net resource transfers and financial transfers, and to present a preliminary oral report to the General Assembly at its forty-fourth session.