The President of Sierra Leone, Dr. Siaka Stevens, gave a grave warning on the third?
The President of Sierra Leone, Dr. Siaka Stevens, gave a grave warning on the third day of the United Nations General Assembly special debate on raw materials and development.
President Stevens told the assembly on Thursday (11th April) that unless swift action was taken to aid most of the developing countries, their economies might be "ruined beyond repair".
President Stevens' warning was ominous:
Citing the example of his own country's iron-ore deposits, he charged that buyers had kept prices low through discriminatory pricing policies and by inducing the expansion of supply, thus maintaining a long-term situation of relative over-supply. He then spoke about the example of the oil-producing countries, and what they could do to help.
The Foreign Minister of the Ivory Coast, Arsene Assouan Usher, in his address, argued that the present session must be confined to seeking a technical solution to the oil crisis. The roots of the crisis, he said, lay in the scandalous conditions which governed the mining of resources and in the inadequacy of the total machinery governing trade, economic and monetary relations. There must be a new strategy, he said, to review international exchange rates and monetary affairs.
An English translation of Mr. Usher's French speech follows: