the sea and space law. We therefore quite recently sponsored a symposium at Sienna, attended by experts from all over the world. Their conclusions will be useful for the momentous conference to be held in Brazil in the summer of 1992. Lastly there is the problem of debt. We have already participated in and helped to pronote the recent changes in the strategy for dealing with this problem, progressing from refinancing to debt reduction. The Brady Plan was a milestone, but insufficient in itself. We need a greater and more finely tuned effort. Greater diversity will be required if the new strategy is to take account of the many differences between individual groups of debtor countries. We must carry the method recommended at the Toronto Summit tO its logical conclusion and extend it to other geographical areas, as has already been done in the case of Bolivia. We are thinking, in particular, of countries in the intermediate range which, because of their income, cannot benefit from existing debt-reduction formulas. Ad hoc solutions should also be worked out for these countries. JVM/8 A/S-18/PV. 3 33 (Mr. De Michelis, Italy) The creditor countries will have to offer broader fiscal incentives so that Private banks can help, through debt-relief operations, to reduce the debt burden. There will also have to be direct mechanisms, such as those linking debt with the environment and debt with social investments. It will also be advisable to strengthen the support capacity of international financial institutions and to increase the resources of the International Monetary Fund (IMF), either by raising quotas or by approving other financing mechanisms. The entire question will need to be reviewed in the light of the report submi ted to the Secretary-General b{ Mr. Betti no Craxi, in compliance with the 
**Analysis**
The text discusses the debt problem of debtor countries, the need for a more comprehensive strategy, and the role of international financial institutions in addressing this issue. It also touches on the connection between debt and environmental and social investments. These topics suggest that the text is related to economic development and international cooperation.

**Category**
Economic development, International trade