Undertraditional terms,in1986weshouldhavetopay$2.4billion toservice thedebt,plus$3.1billion owedfromtheyearbefore, whichwouldinallrepresent ,acommitment of$5.5billion payable in1986.Thisamounts to160percentofour exports, estimatfi.d at$3.4billion fornextyear. Inaccordance withourdecision, themaximum amounttobepaidwouldbe $340million whichwouldbEallocated onapriority basistotheinternational financial agencies andtogovernment-to-government credits, hec:ause wemustachieve oureconomic autonomy. Butatthesametimewemustacceptthefactthatwe require atechnological exchange withtheworldinordertosupport our developnent. Andanimportant elementofgovernment-to-government co-operatiM and credits frominternational financial agencies, granted onfavourable terms,isthe factthattheymustberepaid. Furthermore, Peruisaresponsible country thatdoesnotsimplyblameits foreign debtontheinternational economy andthebanks. WeareaPeOpleseeking aJSM/ed A/4O/PV.5 17 (President Garcia P~rez) revolutionary transformation and,assuch,mustmakeacritical assessment ofour ownhistory andacknowledge thatduetoaprevious lackofunityandawareness and because weallowed ourselves tobedc:mlinated bygroupslinkedtoforeign interests, wehaveresponsibilities thatwemustassume. Whenthetimecomesfordecision, Peruwillcontinue tomaintain itsaims untilcircumstances change,protectionist barriers arebrought down,thetruevalue ofourexportsisrecognized, andweregainthefruitsofourlabour. Iknowthattheresponse ~othisdecision maybetheimposition ~fsanctions andamendments or,ashasalready beenannounced, thatthePeruvian debtmaybe decl&red value-impaired inOCtober. AsPresident ofPeru,Iwishtosaythatitis notnecessary towaituntilOctober tode~lare this.ThePeruvian debtisalready value-impaired hereandnow.Weacknowledge this.Butwhatweshouldask ourselves ishowand.by whomwasoureconomy impaired andwhathistorical answer mustwegivetothissituation. Thatiswhyoursecondobjective isthecomplete democratization ofour society asawaytoresolve thecrisis "JE'areconfronting. Weconsider thehumanbeingtobe'I.,hehighestpriority ofsociety andstate andweaffirmthatdemocracy shouldbeinitiated andbasedonSUffrage andfreedom ofspeech. Therecanbenodemocracy without participation. Therecanbenosocialism without freedom. Universal SUffrage cannotbereplaced byasectoral or corporative voteintheworkplace. Universal SUffrage cannotbereplaced byaMessianic attitude whereone exponent becomes fordecades thepossessor oftruthandhistory anddcomshis peopletodisability andsilence.JSM/ed A/40/PV.5 18 (President Garc{a p~rez) Universal suffrage andfreedom cannotandmustnotbesacrificed totheoffer of.breadthatjustifies dynasties andnational mortgages. Wefirmlybelievethatitispossible toestablish governments thatare governments ofbreadandfreedom andthatacontrary attitude, whatever itsmotto ;>rsupport, isnothing buttyranny. Butwebelievethatdemocracy mustalsobebasedonanequaldistribution of socialresources, aharmonious development ofregions andofeconomic sectors. Democracy mustbe@neconomic modelthatbreaksthrough thevicious circle,that isolates acentra1ist industry inthefaceofmarginal agricUlture, inwhich millions ofPeruvians aredoomedtopoverty. Democracy mustbetheuniversalization oftherighttowork,tohealth, to education, to~'~ticipation. Democracy mustbethegenuine andonlypossible road tosocialism. InthispointthePeruvian Constitution isoriginal. Whereother constitutions beginbydefining thestate,oursbeginsbyspeaking ofthehuman person. Fromthisstandpoint, Iwishtoapproach thesecondsubjectofmystatement, thepainful issueofterrorism andsubversion, thatinrecentyearshascaused thousands ofdeaths, thousands ofinjuries andenormous material losses. WhilerepUdiating totalitarian anddogmatic terrorism, wealsorejectthe concept thatthemeansjustify the~nd,sincesuchethicsleadtotheacceptance of theconcept thatmightisright. Wewillfightsubversion withresolute firIllless butwithrespect forthelaw andforhumanrights. Weacknowledge thatsubversive actionhasbeenpossible not onlybecause oflackofforesight andtheabsence ofawell-planned socialand economic policy, butbecause subv~rsion hasbeennourished bytheexasperating poverty inwhichmillions ofn~glected compatriots areliving.Itisnocoincidence thatterrorismhasarisen :1ntheIIlOSteconomically represented them.(president GaretaP4rez)A/40/pV.S 19-20 theageofone,whereas theaverage inLatinAmerica is73perthousand.Ayacucho, theregionwhereterrorism initiated itsactivities, isinthat
**Analysis**
The text appears to be a speech by the President of Peru, addressing the country's economic situation, debt, and social issues. The President emphasizes the need for economic autonomy, technological exchange, and democratization of society. The speech also touches on the topics of terrorism, subversion, and poverty. The President's tone is critical of the previous government and emphasizes the need for a revolutionary transformation.

**Category**
Economic development, International trade