Welcomes the recent decision of the Board of Governors of the International Monetary Fund to allocate to participant members of the Fund $9,500 million in special drawing rights for a basic period of three years starting 1 January 1970;
2
Invitesthe Governments of the States members of the International Monetary Fund to consider at an early date, after the activation of special drawing rights the possibility of the establishment of a link betwee~ t~e allocati?~ of this new reserve ass~t and the provision o~ add1t1onal development financmg to developing countnes;
3
Calls uponthe aforementioned Governments as they consider the adjustment of quotas, to take into ~ccount the fact that developing countries are exceptionally vulnerable to balance-of-pa~ents fluctuations that they have only limited fleXIbility in adjusting imports and that they do not generally have access to alternative short-term credit facilities, and therefore to approve an adjustment that would give these countries a larger share in total quotas of the International Monetary Fund;
4
Further calls uponthose Governments, in their consideration of the improvement of the adjustment process of balance-<;>f-payments disequil!bria, to ~ive due weight to the interests of developing countries, including the need to ensure that measures adopted do not have any adverse influence on the export prospects or terms of trade of these countries.
13 December 1969.
24 Proceedings of the United Nations Conference on Trade and Development, Second Session, vol. 1 and Corr.! and 3 25 Ibid., p. 54.
28 Official Records of the General Assembly, Twentyfourth Session, Supplement No. 16 (A/7616), p. 268.
