countries,. will continue to generate broadly based support. An alarming characteristic of this crisis in the indebted countries is the decline in investments. This decline is in large measure attributable to the fall in net transfers of resources during the 1980s. In order to remedy this situation and stimulate new foreign direct investment in Africa during this decade, we must meet certain conditions which, unfortunately, Africa is not yet in a position to do, conditions such as acceleration of economic growth, debt servicing, increase of , currency reserves, and so forth. We in fact have the inpression that we are in a vicious circle from which it will be difficult to extricate ourselves. The harsh experience of the least developed countries during the last decade calls for a new commitment and a new approach in the field of co-operation in line with the Paris Conference. The least developed countries are aware of their responsibilities for their o~ development. They are doinq their utmost -from adopting structural adjustment programmes to stimulating production and taking measures aimed at redressing the imbalances existing between the environment and the development of national resources. But all these efforts will be in vain in the absence of an international commitment to development. It is essential to write off or ease the debt burden. Economic theories applicable to developed countries cannot simply be transposed to the least developed countries; the specific conditions of each country must be taken into consideration. In this reqard the Brady initiative represents an important reversal of position, to the extent that it recognizes that reduction of debt and debt service BCT/dl A/S-18/PV. 2 153 (Mr. Farah, Djibouti) is a pre-condi tioo to any strategy for settling debts and that the Governments of the creditor countries nust form an integral part of such a strategy. For the 
**Analysis**
The text appears to be discussing the economic challenges faced by least developed countries in Africa, specifically the decline in investments and the need for debt relief. The author highlights the importance of an international commitment to development and the need for specific approaches tailored to the unique conditions of each country.

**Category**
Economic development, International trade