sometimes beenill-defined, sometimes complex, sometimes controversial, andoften, onvadous pretexts,ithasbeenreduced tosomeofitsaspectsthathavebeen wiselyreferred toasinstances oftheinterdependence ofnations andproblems. Thiscouldleadtoexcessive subordination ortoconflicts ofinterest; andthat,BHS/gmr A/40/PV.l2 62 (Mr.Rabetafika, Madagascar) whenconsidered fromtheviewpoint ofindividual orcollective selfishness, is inevitably reflected inageneral imbalance andagradual erosion ofinternational econoDlic co-operation - aphenomenon thatinitsturnhasbrought about marginalization, backwardness andtheincreasing impoverishment ofthemajority of thenationsoftheworld. Itistherefore natural thatthestruggle ofthethirdworldtoreverse this trendcontinues. Itstarted withourdemandforanewinternational economic order andtheadoption oftheCharter ofEconomic RightsandDutiesofStates.Itwill goonuntilwearesurethattheinternational negotiations willleadtoacceptance oftheideaofeconomic security forall,because, ifweaccepttheaxiomthat thereisnodevelopment without security andnosecurity without development, we mustacknowledge thatouractions mustbesimultaneous andnotconsecutive. Inanycase,whatsecurity ordevelopment, whether integrated ornot,canwe boastofwhenwefaceinextricable, nightmarish debtproblems? Isitnottruethat inthemajority ofcasesthedebtwasincurred toensureforourpeoples morerapid developnent, moreequitable attheinternational levelandbetterdistributed at thenational level?Isitnottruethatwecontinue tobethevictims ofthe erratic pricesofrawmaterials, unfavourable termsoftr~de,fluctuations in interest andexchange ratesand,recently, thetoohighpriority accorded bybanks andfinancial institutions toideasofprofitability? SincethefirstUnitedNations Conference onTradeandDevelopment, heldin NewDelhi21yearsago,itcouldbesaidthatwehaveenjoyed rehashing thesame arguments. wecouldreplythatwehavenotalways foundthenecessary understanding inourpartners toremoveobstacles insituations whoseurgency and acuteness mighthaveescaped them.wedonotwishtodwellatlengthonmissed opportunities. Weassumeitisagreedthatt..'1epresent discussion fallswithinthe framework ofacontinuing significant consensus thattheUnitedNations cannotBHS/glU A/40/PV.12 63 (Mr.Rabetafika, Madagascar) tolerate anyfurther fragmentation ofnegotiations andofthedecision-making system. Twomajorchallenges remaintobemet:thecritical economic situation in Africaandtheproblems ofindebtedness andfinancing fordevelopment. InAfrica,disease, famine, malnutrition andpoverty remainwidespread. Twenty-one countries and205million inhabitants :-:estillaffected bydrought. Domestic production andratesofgrowthhavecontik.aally fallensince1980. Serious balance-of-payments difficulties Rtillexistanddebtservicing alone, evaluated at$158billion in1984,isjeopardizing development andstability. Overandaboveemergency assistance, theco-ordination ofwhichisfortunately handled bytheUnitedNations OfficeforEmergency Operations inAfrica, the seriousness oftheseproblems makesjoint ~ction byAfricaandtheinternational community necessary torevive,interalia,.,ong-term development andeconomic growthandtoensureappropriate structural I.'eforms. African HeadsofStateand Government havemadespecific proposals inthisconnection, suchastheconvening ofaUnitedNations conference ontheeconomtc situation inAfrica, the organization ofaconference onAfrican debtandtheestablishment ofspecial funds forAfrica. Thenegative development oftheeconomic situation hascompelled ustocall forthespeedyconvening ofaninternational conference onmoneyandfinance for development. Aprocess ofconsultation wouldbeestablished between debtors and creditors toagreeonmoreflexible measures forrescheduling andtheadjustment of modalities forgranting official development assistance. But,despite the moratoriums, reschedUling andstructural adjustments, questions ofdevelopment and financing wtllnotbesatisfactorily resolved untiltheproblem ofindebtedness is resolved.-------~---------------------------------, A/40/PV.12 64-65 (Mr.Rabetafika, Madagascar) Weareshocked andoverwhelmed by'Ahatwedonothesitate tocallthescandal ~fthecentury -thefactthatthenet:transfer ofcapital tDthedeveloping countries was$180billion froll1978to1983,butbecamenegative in1984andthat theworlddebtamounts toapproximately $900billion, whereas military expenditures
**Analysis**
The text discusses the economic situation of developing countries, particularly in Africa, and the challenges they face in terms of debt, poverty, and underdevelopment. It highlights the need for international cooperation and the importance of addressing the root causes of these problems. The text also touches on the topic of international trade and finance, mentioning the need for more flexible measures for rescheduling and adjusting debt.

**Category**
Economic development, International trade