Please accept my sincere congratulations, Sir, on your election. I am convinced that your solid academic background and valuable experience as a statesman will serve your country, Uruguay, well, and will strengthen Latin America?s image. I also congratulate the Secretary-General on the excellent report he submitted to the General Assembly at this fifty-third session. It is a document rich in profound analysis and noteworthy proposals for these new times. I am speaking on behalf of Venezuela before the General Assembly of the United Nations at a time when my Government?s term is drawing to a close, in just a few months. Venezuela?s words are candid and sincere, for we are ever at the ready to make our modest but solid contribution to the establishment of stable friendship and an effective and durable peace among all the peoples of the world. The century that is drawing to a close has left a deep imprint on human history. Two gigantic wars nearly put an end to our civilization?s impressive progress and, above all, to the respect for human rights that is fundamental to all progress. An unparalleled revolution seemed destined to change decisively the face and destiny of the world, and the end of that revolution was the most striking and fortunate surprise the world has ever seen. The world war that started in 1914 revealed to the horror-stricken eyes of the world the human capacity for evil and destruction. But it was followed by two decades of lavishness and squandering that made people forget the root causes of the conflagration. The attempt to create a League of Nations awakened ideals and showed the way, but it disintegrated when the thunder of cannons announced the outbreak of the Second World War. The subsequent post-war era, enriched by the bitter lessons of experience, encouraged by suffering and inspired by the ideals of peace and liberty, lived for five decades under the threat of nuclear war. The terrible catastrophe predicted as the inevitable result of the so-called cold war remained at the forefront of the world?s concerns until the memorable fall of the Berlin Wall, which opened the new era in which humanity now finds itself. For half a century peacekeeping has been a difficult and sometimes agonizing task. Faith in ideals was not enough to resolve the problems; what was needed was the will and firm purpose, illuminated by experience. The United Nations has undoubtedly played a very important role in this peacekeeping task, despite all the deficiencies and errors it could be accused of. It has been the irreplaceable forum where all countries could talk to each other, where all ideologies, all ethnic groups, all political systems, could meet, without losing sight of the goal of encouraging and fostering freedom everywhere and of practising and promoting, by all legal means possible, the democratic system, the only system that is truly compatible with respect for human rights and the free competition of all to govern. The Organization has managed to keep its respected position, and today we hope to be able to strengthen it further so as to work firmly together to confront the new problems and realities, something that will require ever greater efforts. The century that is coming to an end has also been a time of incredible transformations. Air travel, which had 10 been the dream of a few visionaries, has become an everyday reality, and each hour thousands of people fly in and out of airports around the globe. The great adventure of space exploration has now left progress in air travel behind, starting with man?s travels to the moon. The very nature of the planet we live on has been the object of comparisons that take us across infinite distances in our thoughts about the basic nature of the universe. The position of our solar system and the global unity we live in, in relation to the whole cosmos, is a subject we are trying more and more to define and penetrate. Furthermore, in just a few short years, compared with the span of history, the communications revolution has made the world more unified, more interdependent, more in need of standards and systems that cannot be imposed by the most powerful, but must be the result of consensus, with respect for each individual?s identity and right to life. In today?s society we are fully conscious of the infinite presence of what is large, but we also have a precise idea of the importance of what is infinitely small. The technological revolution has not left an iota of knowledge untouched by its transforming impact. And those who cultivate thought, pure science and art laboriously search for new avenues, driven by a zeal that arises from the progress already achieved in changing mankind?s way of life. We strongly favour the Secretary-General?s plans for reform of the Organization. We are convinced that the Security Council must be enlarged. The establishment of the International Criminal Court represents an important step in the juridical life of the international community. The fight against drug trafficking and terrorism increasingly requires that the international community become its centre of coordination. These are delicate and demanding problems that cannot be left to the individual actions of States, however powerful. The international community therefore faces an arduous task. The fight against poverty has been one of the most important aspects of international action in the last few years. The World Summit for Social Development reflected one of the priority concerns of the United Nations. The ongoing activities of specialized agencies and the projects of the United Nations Development Programme (UNDP) mark out a clear path in the search for a solution to this problem, a path that must be extended over the whole surface of the Earth. We know full well that peace, true peace, stable and permanent peace, requires justice, and that justice is most truly expressed in social justice. This was recognized by the victorious countries in the Treaty of Versailles at the end of the First World War, and it was also expressed in the Declaration of Philadelphia of 1944 by the belligerents about to triumph in the Second World War. The fight against poverty is ever more necessary and urgent, for the market economy and the current globalization process cannot on their own respond to the demands that social problems make on world leaders. In addition to its positive aspects and the progress it undeniably entails, the complex phenomenon we have come to call globalization can also have progressively negative effects on the emerging developing countries. Faced with the world?s present imbalance, we must therefore make a special point of emphasizing the harmful effects of international financial speculation. The balance of terror imposed by the cold war has been replaced by a lack of financial discipline, by ruthless speculation that is alien to the values of solidarity and ethics that should prevail even in technology?s most sophisticated advances. The poorest countries are the traumatized victims of this reality, but the whole world community may be threatened by this situation that will affect even the advanced countries. No one can escape the consequences of this situation. I therefore believe that today?s international agenda must concentrate on this critical point, giving it priority over other objectives that, though also important, must give way to this indispensable matter. My country?s delegation to the United Nations has set forth, first to the Group of 77 and then to the General Assembly, the need to call a special meeting to study the financing of developing countries. If financial assistance to the developing countries is not addressed on a priority basis, if the necessary resources are not forthcoming from the World Bank and the International Monetary Fund, as well as other agencies dealing with the basic aims of development, globalization will not be as successful as we could hope it to be. The effects of the Asian crisis on Latin America have resulted in the weakening of some currencies, a significant downturn in the capital markets, rising internal interest rates, restrictions to the obtention of external credits and a rapid increase in the risk factors for many emerging countries. The visible effects of the phenomenon of globalization have demonstrated the imperfections of the international financial and monetary system, which has 11 recently been characterized by, inter alia, the sharp impact of the participation of powerful financial groups and the decisive actions of certain parties, such as the agencies that assess risk, certain of which have become a worse threat than the terrible forces of other times. The time is ripe to encourage a better understanding between developed and developing countries, all equally affected by financial instability. Venezuela believes that financial and monetary issues must have a permanent place on the agenda of the United Nations system. To that end, the exchange of ideas between the Organization and the international financial institutions that make up the Bretton Woods system must be encouraged and strengthened. Fundamentally, globalization will depend on the balance between rich and poor, between the more advanced, the intermediately advanced and the least developed nations, and on the application of equitable formulas to alleviate the external debt burden referred to by the Secretary-General in his report. At the end of the twentieth century, there is no more important objective than to steer the concern of the international community in this direction. If measures are not taken to put an end to the abuses of what His Holiness John Paul II called savage capitalism, which gives rise, with its excessive desire for profit, to unstable situations that are transmitted with vertiginous speed to all the world?s economic centres, we will have replaced the fear of nuclear war with the threat of an economic and social catastrophe. It is my view that in today?s globalized world, one of the primary commitments of the community of nations, working through and coordinated by the United Nations, is to strengthen its resolve to prevent and correct unacceptable imbalances, and to ensure the awareness and capacity of the international financial mechanisms for facing contingencies. In a few weeks, the people of Venezuela will go to the polls to elect their new leaders. For 40 consecutive years, at each constitutionally determined interval, the transfer of power stipulated by the Constitution of the Republic has been carried out. In shifting circumstances, the institution of democracy has remained stable in an atmosphere of full and absolute freedom. A difficult economic situation and the winds of change that are blowing throughout the world and are becoming stronger on the eve of a new millennium have focused Venezuela?s political debate on the idea of change. I am nevertheless convinced that, despite the change Venezuela envisages, its people?s love for liberty and democracy as the best system of government and its commitment to fight for peace and understanding among all nations will remain unaltered. May I remind the Assembly that, although our fight for political independence was perhaps the bloodiest of the nineteenth century, we have not had a single violent conflict with any other country since the birth of our Republic. In international forums, Venezuela has distinguished itself by its constant support for universal peace and has always made its modest contribution to any initiative in favour of justice and peace. That is why I can assure the Assembly that the next Government of Venezuela, whatever the electorate may decide, will continue to follow the same path within the United Nations. The Organization can rely on Venezuela for anything relating to service to any and all human beings, or to friendship, cooperation and peace among nations, and anything required by the fight against crime, poverty, drug-trafficking, terrorism, hatred, discrimination — all the evils that have beset humanity. We trust that the United Nations will always stand against those evils as a shield against adversity and a beacon of hope.