A new Latin America in a new international capital market

The timeliness of another look at the development prospects and policy options for Latin America can hardly be disputed. Another shock from a significant increase in the price of petroleum is adding to the burdens of a world economy already mired in stagflation. The recent UNCTAD meeting has not produced a common programme for accelerating and spreading economic development: on the contrary, divisions among and between the industrialized and developing nations have widened. Even the conclusion of the Tokyo Round has tailed to evoke enthusiasm among the Group of 77.