and assumed an alarming magnitude. First and foremost this is reflected in the deterioration of the terms of trade, the instability of the international monetary system, mounting inflation and declining external financial flows, all aggravated by a foreign debt crisis which minimizes the possibilities for growth end development. Undoubtedly, the combined effect of these phenomena is undermining the capacity for development and slowing the pace of growth in the developing world. Hence the imp::,rtance of this special session, which aims at meeting our urgent need to address these challenges which we often deal with in an atmosphere of such distrust that it has even led to confrontation between North end South. This apparent lack of understanding on the part of the North for the concerns of the South sometimes suggests an attitude of indifference, which has added to the feeling of marginalization and frustration on the part of developing countries. The statements of preceding speakers and the reports before us have described the situation at considerable length and highlighted the many problems that curb the growth and development of developing countries, in particular the inequitable trade system which characterizes international economic relations. Therefore, at this important session we should acquire a general awareness of the magnitude of the crisis and a determination to overcome it collectively. Today we are witnessing radical changes in values and concepts, which have given rise to major developments, both political and economic. It is a source of satisfaction to us that the international community is progressing along the path BSH/jh A/S-18/PV. 2 88 (Mr. Khelil, Tunisia) of freedom and that peoples are determined to participate actively in deciding the course of the political and economic life of their countries. We hope that profound changes in international relations, especially between the East and the West will lead to an effective exchange and more thorough 
**Analysis**
The text discusses the challenges faced by developing countries, including economic crises, foreign debt, inflation, and declining external financial flows. It also mentions the need for international cooperation to address these challenges and promote economic development. The text does not specifically mention natural resources, environment, agriculture, forestry, fishing, health, education, employment, humanitarian aid, or culture.

**Category**
Economic development, International trade