(b) A second broad area relates to the funclioning of the inCernati.onal monetary system and in particular to the way in nhich international liguidity i3provided. The need for discussion about ways to achieve smooth changes ln international liquidity and about the role of SDns as an international reserve assee remains urgent. Regarding the framework for adjustment, a strengthened surveillance process with more vrorkable forms of conditionality and an improved mix of financi.ng and adjustment seem called for. civen Che interrefation among these issues, a case can be ftade for exploring further the posslble contribution, in due course, of an international conference, as proposed by several developed and developing countries, specifying more clearly than has been done so far just what such a conference i{ou1d add to the presenl processt (c) The improvenene of the trading systen is another area of critical importance. Countries should bring to an early conclusion the unfinished business from the Tokyo Round and should implement che commitments undertaken at Ehe 1982 Ministerial t4eetlng of GATT and reaffirmed at the sixth session of UNCTAD. Further, efforts shoul.d be made to improve and strengthen GATT rules and to bring into its lega1 frameerork secloral arrangements negotiated outside of it, Careful preparation of a new round of rnultilateral trade negotiations, the agenda and the scope of ehich must reflect the interests of all countries, should begin soon, (d) Much more rapid progress cowards rescoring groweh in indebted developing countries is required, Although wide agreemen! exists on the crucial need fot donestic policy Eeforms and improved domeslic management in these countries, chereis also a need to seek rnore imaginative forns of co-operation between public andprivate flolrs. For lower-income developing countries that have to rely on offlcial capital flows, a fureher lrrite-of f of foreign debts is important. But also
**Analysis**
The text appears to be discussing various economic and financial issues, including the functioning of the international monetary system, international liquidity, trade, and debt relief. The language used is formal and technical, suggesting a focus on economic policy and development. The text does not mention natural resources, environment, health, education, employment, humanitarian aid, culture, or science and technology, which are all categories that are distinct from economic development.

**Category**
Economic development, International trade