• Short Summary

    UNITED NATIONS

    At the United Nations in New York, Mr Farooq Sobhan, Chairman of the 'Group of 77' told a news conference that the developing countries are facing a major liquidity crisis.

  • Description

    1. GV Delegates listening 0.05
    2. SCU Farooq Sobhan, Chairman of the Group of 77, speaking (SOT) (2 shots) 1.33
    SPEECH TRANSCRIPT: (SEQUENCE TWO): FAROOQ SOBHAN: "We are now finding a situation, where it has become extremely difficult for the large majority of the developing countries to borrow. It has become extremely difficult for a large number of countries to repay their debts, so we have to take an overview to all these problems. There is as I said a partial recognition (indistinct) we had as members of the press will recall during the Interim Committee meeting an increase of quotas of 47.5 per cent during the meeting in February. There is now some talk of fresh SDR allocation, although the figures which are being talked about refer to (indistinct) region of five billion dollars (indistinct) we speak in terms of at least 15 billions a year for the next two to three years. So, while there is some recognition all the pieces have not been put together in any coherent manner, so that as we see it, if you add two and two together, you do get four and we hope that certainly at the Williamsburg summit some attention will be given to precisely these questions."
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    Script is copyright Reuters Limited. All rights reserved

    Background: UNITED NATIONS

    At the United Nations in New York, Mr Farooq Sobhan, Chairman of the 'Group of 77' told a news conference that the developing countries are facing a major liquidity crisis. The 'Group of 77' is the informal body in which the poorer countries coordinates their economic activities in the United Nations and comprises all the Non-Aligned countries plus another 25. Mr Sobhan said it has become extremely difficult for the majority of the developing countries to get new loans to repay their old debts. He renewed the developing countries' demands for an increase in International Monetary Funds loans -- established at the Non-Aligned-summit in New Delhi last March -- to at least 15 billion dollars a year for the next two or three years. The Western Economic summit, to be held in Williamsburg in the United States in mid May, should consider this demands very seriously, Mr Sobhan said.

    Source: UNITED NATION TELEVISION

  • Tags

  • Data

    Film ID:
    VLVADIX86EO9UK3HLVNKVZ4NQ0LOO
    Media URN:
    VLVADIX86EO9UK3HLVNKVZ4NQ0LOO
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    04/05/1983
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:33:00
    Time in/Out:
    /
    Canister:
    N/A

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