incidence of child malnutrition. Indicators of average life expectancy at birth, infant mortality and immunization coverage also failed to register any significant improvement. Those very discouraging trends in socio-economic conditions have seriouslv affected savings and the generation of an investable surplus. During the last decade, the least developed countries witnessed a significant depletion in their savings capaci tv as a result of the need to maintain a minimal consumPticn level for an ever-grc::Ming population, declining economic growth and increasing foreign exchange constraints. Over one third of all the least developed countries experienced a negative savings ratio during the entire 1980s, while in the majority of others it fell significantly short of their actual requirements. As a result of their savings and foreign exchange constraints during the major part of the 1980s, the least developed countries experienced an unabated diminution in their ability to make productive investments and maintain their already limited capital stock. The share of gross investment in gross domestic product declined from 19 per cent in the period 1981 to 1983 to about 14 per cent in the period 1984 to 1986. As a large part of their investable savings had to be devoted to the replacement of existing capital stock, the net investment ratio in the least developed countries fell significantly. Furthermore, about two thirds of their savings had to be devoted to immediate needs. BCT/ASW A/S-18/PV.8 44-45 (Mr. Wakil, Afghanistan) Despite the sensitivity with which the problems of the least developed countries were addressed by the international community durinq the last decade, and although in terms of donor performance sustained efforts were displayed by manv developed countries, we note that the real transfer of resources, as measured by the difference between the current balance and net interest payments adjusted by 
**Analysis**
The text primarily focuses on the economic struggles of least developed countries, specifically their inability to generate savings and invest in their economies due to various factors such as malnutrition, infant mortality, and immunization coverage. The discussion also touches on the impact of these issues on the countries' ability to make productive investments, maintain their capital stock, and even replace existing infrastructure.

**Category**
Economic development, Humanitarian aid and relief