ABSTRACT
This chapter summarizes the decisions on financial and monetary cooperation among developing countries adopted at the High Level conference on economic co-operation among developing countries held in Caracas on 13 - 19 May 1981. It discusses the substantive issues arising from these decisions, and considers the work needed for their elaboration and implementation. The Caracas programme has several distinguishing features. First it is a remarkably comprehensive programme: it covers almost the whole spectrum of financial relations among developing countries as well as an important segment of their relations with the outside world. Secondly, it is a bold, non-marginalistic programme. The Caracas programme represents an agreed compromise base for further negotiations among developing countries. A satisfactory outcome of negotiations on finance is of importance not only on its own merits, but also as a major element of progress in some other parts of the Caracas programme.
