ABSTRACT
Ministers noted with grave concern the continuing deterioration in the international environment for the development of their economies as reflected in highly discouraging trends of aid flows and trade of developing countries. Ministers were of the view that the relevant provisions of the Rome Communique and the trade pledges in the Organisation for Economic Cooperation and Development had as their rationale the discouragement of escalation of trade restrictions in developed countries. Ministers stressed the need for international financial agencies to help establish a secondary market for debt instruments issued by developing countries, by investing part of their liquid assets in such paper and by other means. Ministers expressed concern at the diminishing share of upper- and middle-income countries in the International Bank for Reconstruction and Development, mimeographed’s lending program and considered that present lending to these countries should be increased. The text of the “Communique of 7 January 1976 of the Intergovernmental Group of Twenty-Four on International Monetary Affairs.”
