growthinthedeveloped market economies todevelopment inthedeveloping countries. Thereduction ofbarriers tointernational trade -betheytariffs or non-tariff barriers -andtheelimination ofdiscrimination against exports f~m thedeveloping countries haveanobvious roletoplay. Thesuccess oftheUruquay Roundandthestrengthening ofGATTandthemultilateral system, asdiscussed in chapter II,areessential elements ofaninternational strategy toreduce poverty. 138.Equally important formanycountries inAfrica andLatinAmerica, andfora fewinAsia,isgreater progress towards solving theinternational debtproblem. Whileitwouldbeincorrect tosaythatnoprogress hasbeenmade,itisamatter ofserious concern thattheforeign debt/export ratioishigher todaythan itv~ in1982whenthedebtcrisisfirsterupted. Unless debt-servicing obligations for themostseriously indebted countries canbereduced substantially, manyofthel willnotbeabletoraisetheirrateofinvestment, increase thevolume ofimports orresumesustained growth. Somecombination oflowerinterest rates, debt write-off, rescheduling andconcessional aidflowsalmost certainly isessential j: poverty inthehighly indebted countries istofallduringthisdecade. A reduction inthird-world debt,moreover, wouldbetotheadvantage ofmany developed countries sinceitwouldpermit anexpansion oftheirexports and.henct, faster growth. 139. T~emostimportant p~int, however, isthatthedeveloping countries need expand1ng markets forthe~rexports inthedeveloped countries inordertoillcrease employment. andraisetheproductivity oflabour inbothruralandurbanarU5.If anapp~opr~ate setofdomestic policies isinplace, foreign tradecanbea ~andma1de~ topov:rty e~adication. Thedeveloping countries haveaparticular 1nter:s~11n thellberallzation ofinternational tradeinagricultural producU, ~:iecla. ypr~cess~d agricultural goods, intextiles andclothing, andinother our-1ntens1ve 11ghtmanufactured goods. 140.Theinternational agencies parti I 1regional development banks _can-also cua~ytheIMF,theWorldBankandth~ financial andlending policies Th'contn.bute tofaster growth through thelf andthecomposition oftheirl;ndin e1~avolume oflending affects global balall:es,1 internationally financed investment gactnaffect theextent towhichthebenehts~ international financial instituti hually reachthepoor. Attheveryleast outflow eveniftheycan't ensureo~:a~ ouldhelptodiminish thenegative net~ poorcountries. Insetting cond't' thenetflowofcapital isinfavouroft:'i. 110nsforlend;ngth. hO~ld.taken1ntoaccount. •,e1mpact onpoverty 5 141.Theactivities ofthespecialized' . course, technical assistance shIdUnl.ted Nat10ns agencies. includin<}. of•ouevolve .th' rethereisnodiscrimination againtth W.l1nacontext designed toenSu agencies isanother areawhere s e pOor. Theworkofthemanyspecialized eradication ofpoverty should bmoreeffective international cooperation int~ePossible S - cie!•everal oftheUnited Nations agen -40-nowfocusquiteexplicitly onpoverty reduction oronactivities whichareclosely relatedtopoverty reduction. Theyhaveallundertaken toaddress explicitly the impactoftheirprogrammes onwomen. TheUnited Nations Development Programme (UNDP)proposes tomakehumandevelopment acentral themeofitswork,andthisis greatlytobewelcomed. TheInternational FundforAgricultural Development (IFAD) haspioneered ininvesting inthepoor,andastrongcasecanbemadefor augmenting itsresources sothatitslending activities canincrease. TheWorld Employment Programme oftheInternational LabourOrganisation (ILO), nowwell established, couldperhaps berejuvenated andgivenarenewed mandate totackle employment andpoverty issuesindeveloping countries. TheWorldHealth Organization (WHO)hasdonemuchvaluable workonprimary healthcare,although
**Analysis**
The text primarily focuses on the economic development of developing countries, discussing issues related to international trade, debt, and poverty reduction. It also touches on the role of international organizations and agencies in promoting economic growth and reducing poverty.

**Category**
Economic development, International trade, Employment