investment. 3. Debt 36. The total debt of developing Africa is estimated at $ 87.8 bill ion, an increase of about 14 per cent over the $ 77.1 bill ion of 1980. Africa is the least indebted of the continents, with about 14 per cent of the total debt of developing countries. However, this is due in large part to its inability to mobilize more funds from external sources. The in flat ionary recession has restricted flows of concessionary resources, while high interest rates in the world capital and money markets and Africa's own poverty have together impeded non-concessionary flows. 4. Terms and ditions 37. The terms and conditions applying to developing Africa's foreign debt have continued to deteriorate. Because of the shift from concessionary to non-concessionary sources, the grant ele­ ment has continued to decline, while the periods of maturity have become shorter. World interest rates have remained high. Ac:.. cording to HlF, interest rates in the major in<1ustrial countries in 1981 averaged 13.1 per cent for short-term and 13.2 per cent for long-term loans, 12 per cent and 17 per cent higher respec­ tively than the previous year. f/ 38. The result was to increase the burden of servicing debts. In 19€1 the debt service ratio reached the unprecedented 1 evel of 18.8 per cent, 22 per cent higher than the previous year's level of 15.4 per cent. This jump was due to increases in both the in­ terest payment ratio, from 3.7 per cent to 4.2 per cent of ex­ ports, and the amortization ratio, from 6.8 per cent to 9.2 per cent, \/hile at the same time export earnings declined. 2._/ 5. Prospects 39. The external resource needs of developing Africa are bound to increase with the need to accelerate economic development. 
**Analysis**
The text primarily focuses on the financial aspects of developing Africa, specifically the debt crisis, debt service ratio, and the need for external resources. It highlights the challenges faced by Africa in mobilizing funds from external sources and the impact of high interest rates on its debt burden. This suggests that the text is more concerned with economic development and international trade than with other areas.

**Category**
Economic development, International trade