newstructure andtheenormous costofservicing it,nowexceeds theability of national economies torepay,isbeyondthecontrol ofGovernment authorities and threatens thepolitical andsocialstability ofthedebtorcountries whileatthe sametimeendangering theinternational banking systemandundermining the foundations ofeconomic andsocialdevelopment policy. Consequently webelievethattheexternal debthastoagreatextentceasedto beabanking andaccounting phenomenon andbecomeaproblem thatisessentially political andsocialandthattheadjustment policies applied bymanycountries oftenleadtoaviciouscircleofimpoverishment andinstability.JVMj8 A/40/PV.2l 28 (Mr.Filali, MOrocco) TheKingdomofMorccco considers inthisrespectthattheconvening ofan international conference ontheAfrican debt,theprovisions oftheCartagena Consensus ofJune1984andtheresolution onexternal debtrecently adopted bythe Ministerial Conference oftheNon-Aligned Countries inLuandaarecomplementary initiatives inthattheyaffordanexcellent basisforfinding aframeofreference withaviewtoseeking ajustandlasting solution totheproblem ofexternal indebtedness basedonmutualagreement andthesharedresponsibility ofdebtors and creditors andontheessential linkthatexistsbetween theexternal debt, development finance andtheexpansion ofinternational trade. Moreover, sincetheworldhaschan~ed, aredefinition oftheinternational monetary systemandof"theroleoftheInternational Monetary Fundarevitally and urgently needed.Itisourfirmhopethatthefortieth session oftheGeneral Assembly willpromote theconvening inthenearfutureofaninternational conference onmoneyandfinance, withworld-wide participation, asproposed bythe seventh non-aligned Summit, heldinNewDelhiinMarch1983.Theresultsofthat Conference shouldformanintegral partoftheprocessofglobalnegotiations, whichthemselves havebeenrightly described asaftmajorpolitical objectiveftof theinternational community asawhole. Wherethesituation inAfricaisconcerned Morocco, asanAfrican country, considers itessential thataspecial session oftheUnitedNations General Assembly beconvened todiscuss thecritical economic situation inAfrica. OurAssembly didindeedadoptbyconsensus atitsthirty-ninth sesionan important declaration recognizing that,despiteitsconsiderable economic potential, Africaremains notonlytheweakest ininfrastructure andtheleast industrialized, butalsotheleastdeveloped continent ontheplanet. Africahas, indeed, twothirdsofthedeveloping land-locked countries andthreequartersJVM/8 A/40/PV.2l 29-30 (Mr.Filali, Morocco) oftheleastdeveloped countries, whilefourfifthsofthecountries inthisregion arecurrently sUffering fromdrought anddesertification. ForthisreasontheKingdomofMoroccoisconvinced thattheinternational community cannotincurtheguiltoffailing toassistthisendangered continent, anddeclares thatitisabasicdutytodemonstrate solidarity towards theAfrican countries intheirstruggle forsurvival, development anddignity. TheSouth-South co-operation anditstremendous prospects areanillustration ofthethirdworld's commitment toassumeitsowndestiny. Weareconvinced that, atatimewhentheoutlines ofanewstructure intheworldeconomy arebeing drawn,theestablishment ofanewinternational economic ordercannotbebrought aboutwithoutsignificant progress inco-operation amongdeveloping countries. Thisco-operation, whileaimingatcollective autonomy, isinnowayinspired byan autarchic turning inward, andhenceconstitutes neither aprerequisite fornoran alternative toNorth-South dialogue. Theco-operation mycountryisengaging inwiththecountries ofAfricaatthe bilateral andregional levelisanoutstanding manifestation ofthisspirit. It hastakenondifferent forms:financial contributions tothep~anofactionofthe Non-Aligned Movement todealwiththecritical economic situation inAfrica, grants totheInter-State Committee onDrought Control intheSahel,loansforthe financing ofinfrastructural work,donations ofequipment andtransport facilities, participat,ion inminingprojects, stafftraining, technical assistance, provision ofmedical andveterinary supplies, foodaidconsignments, fertilizer shipments and debtmoratoriums.JSM/rd,-~---------------------- A'/40/PV.2l 31 (Mr.Filali, Morocco) Whilewearecalling onthedeveloped countries toshowfirmpolitical willin theirsolidarity andinterdependence withthedeveloping world, mycountry considers thatbystrengthening South-South co-operation theGroupof77will
**Analysis**
The text primarily discusses the economic issues faced by African countries, particularly the debt crisis, and the need for international cooperation to address it. It also touches on the importance of South-South cooperation and the role of the international community in supporting developing countries. The text does not specifically focus on natural resources, environment, agriculture, forestry, fishing, health, education, employment, humanitarian aid, or culture.

**Category**
Economic development, International trade