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		</div><p>The UN General Assembly has approved a resolution setting out nine principles to restructure national debts, calling on debtors and creditors “to act in good faith and with a cooperative spirit” to reach an agreement.<br />
C<br />
The non-binding resolution, overwhelmingly adopted by a vote of 136-6 with 41 abstentions, follows on two other resolutions approved by the 193-member world body that were spurred by the speculative action that led Argentina to a second default.</p>
<p>The US, UK, Germany, Canada, Japan and Israel all voted against the resolution.</p>
<p>The resolution asks all countries and international organisations to support and promote the nine principles, which were drawn up by a wide-ranging committee established by the assembly.</p>
<p>Argentine foreign minister Hector Timerman called it “a resolution in favour of economic stability, social peace and development”.</p>
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