A/RES/52/180. Resolution of the United Nations General Assembly, 1997

• Resolution Number: A/RES/52/180
• Year: 1997
• Session: 52nd
• Issuer: General Assembly of the United Nation

UNITED A

NATIONS

General Assembly

Distr.

GENERAL

A/RES/52/180

14 January 1998

Fifty-second session

Agenda item 95 (a)

RESOLUTION ADOPTED BY THE GENERAL ASSEMBLY

[on the report of the Second Committee (A/52/626/Add.1)]

52/180. Global financial flows and their impact on the developing countries

The General Assembly,

Reaffirming its resolutions 51/166 of 16 December 1996, entitled "Global financial integration and

strengthening collaboration between the United Nations and the Bretton Woods institutions", and 50/91 of

20 December 1995, entitled "Global financial integration: challenges and opportunities", as well as Economic

and Social Council resolution 1996/43 of 26 July 1996 on strengthening collaboration between the United

Nations development system and the Bretton Woods institutions,

Stressing that, in the context of global financial integration, global financial flows present new challenges

and opportunities for the international community and should constitute a very important element of the

dialogue between the United Nations system and the Bretton Woods institutions,

Expressing its concern that a number of developing countries, in the course of liberalizing their external

economic and financial regimes, have become more vulnerable to the volatile fluctuations of private capital

flows in international financial markets, and stressing the importance at the national level in the countries

concerned of a favourable climate of private financial flows, sound macroeconomic policies and appropriate

functioning of markets,

Noting that the globalization of financial markets can generate new risks of instability, including interest

rate and exchange rate fluctuations, which have the potential to aggravate the volatility of short-term capital

flows and to affect adversely the international financial system, requiring all countries to pursue sound

economic policies and to recognize the external economic impact of their domestic policies,

Mindful that all countries should continue their efforts to promote sustained economic growth and

sustainable development, in accordance with relevant General Assembly resolutions and recent United Nations

conferences, and that the major industrialized countries, which have significant weight in influencing world

economic growth and the international economic environment, have important responsibilities to cooperate

with developing countries so as to enhance the efforts of the developing countries to address and alleviate

their major problems in the areas of finance, trade and external indebtedness,

98-76135 /...