tions on financial markets. In fact the use of IMF credit rose to $14.9 billion in 1981 compareti with $1.2 billion in 1973. 16. The lonq-term external debt of oil-importinq developinq countries, which reached $437 billion in 1981, rose to around $505 billion in 1982. This represents scrne 25 per cent of their tctal GDP, compared with only 16.6 per ce.nt in 1973. Debt ser­ vice payments, estimated at $92.3 billion in 1981, totalled $107.8 billion in 1982, up from a mere $15.3 billion in 1973. Inflation has of course eaten into the real value of the debt and the service payments, but with the low level of reserves relative to imports, the fall in export revenues and the hiqh cost of credit, developinq countries have found it difficult to qo on in­ creasirc; their foreiqn borrawinq at the same rate as in the period 1973-1980. Some developinq countries, especially oil ex­ porters like Mexico, have ever-extended themselves on the basis cf expl'Cted oil revenues and are now experiencinq a liquidity crisis which has necessitated special IMF intervention. The credi t-\ICrthi ness of rna ny de vel opinq countries has consequently been cal led in question, and mountinq numbers of them have souqht to rescltedule their debts, with the result that the international bankinq system is more and more reluctant to provide needed finance, and there has been a t:d~nificant drop in the flow of capital towards developinq countries. 17. The principal cause for concern here is that the debt is concentrated in a few countries, includinq Arqentina, Brazil and ~iexico, for some of which oil revenues are on the decline. Some socialist countries in eastern Europe, such as Poland. and Romania, have also accumulated huqe debts, and are facinq acute 
**Analysis**
The text primarily discusses the economic situation of developing countries, specifically their debt and credit issues, and how this affects their ability to borrow and receive aid from international organizations. It also mentions the impact of inflation, oil prices, and international trade on these countries' economies. Given the focus on economic development and international finance, it is likely that the text belongs to one of the economic-related categories.

**Category**
Economic development, International trade