countries, and notwithstandinq the various proposals made and initiatives taken, those countries are still finding it extremely difficult to extricate themselves from their precarious financial situation, which is seriously hamperinq their efforts for economic qrowth. Moreover, as a result of it, we are witnessinq the net transfer of resources from the developinq to the developed countries. That problem needs to be tackled with qreater boldness and imagination, and the aim should be twofold: first, 'to make it possible fbr those countries to extricate themselves from the vicious hold that debt has on their develonment, and secondly, JB/31 A/S-18/PV. 8 149 (Mr • Borg Olivier; Malta) to ensure that the alarming situation we now face will not be allowed to recur in the future. A number of speakers have addressed various issues, including the decline of comnodity prices, high interest rates, the agreed levels of official development assistance, the decline in investment and the current direction of international financial flows. Those issues are also identified in the documentation Prepared for this session bv the Secretariat. I need not take up the Assembly's precious time by elaboratinq further on them. What is important is that the problems should be identified, and that has, in our view, been achieved within the United Nations and within the international community. From that point, we must proceed to make a serious and determined effort to find the solutions. That will require substantial technical and financial resources, and it is there that that real challenqe lies. The opportunity clearly exists now for increased co-operation free from ideological distractions. There is also encouraging evidence of sufficient political will and determination to achie~e real progress on all sides. Let u; therefore move forward with courage and confidence and lay the foundation for a constructive and productive dialogue that 
**Analysis**
The text discusses the challenges faced by developing countries in extricating themselves from debt and achieving economic growth, which is closely related to international economic issues, such as financial flows, official development assistance, and commodity prices. It also mentions the need for increased cooperation among countries to address these issues. Given this focus on economic development and international cooperation, it is likely that the text belongs to the category of economic development and international trade.

**Category**
Economic development, International trade