74. It could help developing countries to overcome their reluctance to proceed with a new round of trade negotiations at this time, if their interest in deliberations on monetary and financial issues could be recognized and if they could receive assurance that the new round would respond to their interests. The spring meetings of the Interim and Development Committees did not seem able to give expression to widening support for serious discussions on financial and monetary reform. But circumstances would appear to be more propitious now for dialogue. It remains extremely important that any discussions which result from present proposals should lead to an effective deliberative process which, while realistically small, is also realistically representative. 75. Priority issues for any such process, including many we have touched upon in this report, would include: (a) Macro-economic policy surveillance and co-ordination, crisis management and the exchange rate regime; (b) International liquidity and the role of IMF; (c) Development finance and the role of the World Bank; (d) The trade and investment regime. 5. A time for renewal 76. We began by saying that the challenge multilateralism now faces is in reality a question of the need for international co-operation across a broad front. We have tried to show, both from the history of its evolution in the post-war era and from the major changes ttjat have arisen as a result of the down-turn of the world economy, that all nations are endangered by a drift away from multilateralism. We have drawn attention to some of the specific respects in which greater international co-operation is urgently needed in relation to world trade, to monetary policy, to debt and finance and to the severe crisis now facing countries and peoples in sub-Saharan Africa. 77. Consistently, over recent years, the Committee for Development Planning has 
**Analysis**
The text appears to focus on the international economic landscape, discussing the need for cooperation in macro-economic policy, international liquidity, development finance, and trade and investment regimes. It also references the role of international organizations such as the IMF and World Bank. This suggests that the category should be related to economic development and international trade.

**Category**
Economic development, International trade