HeadsofStateerGovernment oftheMovement ofNon-Aligned Countriesf ·wealthisstillconcentrated inthehandsofefewpowerswhosewasteful economies aremaintained bytheexploitation ofthelabouraswellasthe transfer andplunder ofthenatural andotherresources ofthepeoples of Africa, Asia,LatinAmerica andott-erregionsoftheworld." (A/34/542, Annex,Political Declaration, para.7) Inproclaiming theunpayable anduncollectable natureofthedeveloping countries' foreign debt,wedonotindulge inhyperbo.le, nordowebrandish propagandistic slogans, assomecapitalis-t leaders andcertain elements oftheir pressclaim. webasecuropinion onrigorous, scientific analysis thatcanbe clearly demonstrated withirrefutable facts-forexample, in1984theflightof LatinAmerican capital tothedeveloped capitalist countries, mainlytheUnited states; thedeteriorationinthetermsoftrade,provokedbyanincreaseinthe pricesoftheindustrialgoodsandintermediate goodsthatweimportanC:adropin thepurchasing powerofourexportproducts; theartificial, arbitrary maintenance ofhighinterest rates;andtherealincrease inthedebtandtheinterest onit, duetotheovervaluation ofthedollar. Allofthatledtotheillegal plunder ofmorethan$45billion fromour America, asFidelCastropointed outinhiswell-known interview granted tothe Mexican dailynewspaper Excelsior: 820billion owingtothedeterioration inthe termsofexchange~ $10billion owingtoexcessive interest, $10billion owingto IJP/eel ..A/40/PV.9 77 (Hr.Malmierca reoli..Cuba) Itheflightofcurrency and-ataconservative estimate -SSbillion (Mmgtothe overvaluation ofthedollar. Healsoaffirmed: -Addingitallup,including whatcanbeconsidered norJaalinterest onthe debt..injustoneyeartheLatinAmerican countries haveturnedovertothe rich..developed worldaround$70billioo ..ofwhich$50billion wasincash. -Thatiswhywefeelthatitisindispensable, decisive andurgentto solvetheproblemofthedebt.Thecrisisisadvancing andwillcontinue to doso.Itisillusory tothinkitcanbesolvedthroughpalliatives ..debt reschedUling andtraditional formulas. Wemustgettothebottomofthe problems created byunder-development ..whichhinderourcountries' development andcontinue towidenthegapbetween theindustrialized andthethirdworld countries. Inaddition tosolving theproblemofthedef?t..wemustestablish thenewinternational economic ordex:onceandforall.- Thatthatisfeasible isshownbythecapitalist countries' experience ..aswas pointed outon12September byTheWallstreet.Journal ..whichcannotbesuspected ofhavingtheslightest leftistproclivities. Itsaid: -Torealize thefollyofthiscourseimposed bytheIMFitisonlynecessary toconsider Western Europeintheaftermath ofworldWar11.Suppose thatthe Marshall Planhadbeenorganized bythecommandantes nowinstalled inthe IMF.Thosewearyandindebted nations wouldhavebeenpressed tofurther sacrifices. Instead oftheaidthatrevived theireconomies ..benefited the U.s.andhelpedstimulate thegreatpost-war boom..IMFmeasures ofthesort urgedtodaywouldhavemeantacontinuation ofthehorrors ofwarbyother means.- Thearticle added: ·Yetincontrast tothatpost-war boldness theapproach espoused bytheIMF hasled,since1982,toanetcapital inflowfromthethirdtothefirstJP/ed A/40/PV.9 78 (Mr.Malmierca Pooli,Cuba) world. Theonlysectortowhichthiscanpossibly beofadvantage isthe banks,whichwilldoanything ratherthanwriteofftheiruncollectable loans, sincethiswouldmeanconfessing totheirshareholders thatalargeamountof theirassetsareworthless." TheWallStreetJournal concluded: "Theonlyansweristowritaoffthedebtandbeginagainwithproductive loansthatarenotmerelyroll-over servicing fordebt,butthatwill underwrite thatdesirable stateofaffairs: thenetoutflCM ofthesurplus fromthedeveloped tothedeveloping world." Inotherwords,asinthebankcrisisof1928,theGovernments ofthe capitalist statesshould assumethethirdworldcountries' debtstoprivate banks andstimulate anewflCMofresources fordevelopment, whichcouldverywellcome fromalCMpercentage oftheirmilitary expenditures. Tenpercentor,ifthe interest remains high,12percentoftheirmilitary expenditure wouldsuffice, and thoseexpenditures wouldstillbe.fabulously highandgivecauseforconcern. WehopethattheUnitedNations, asanirreplaceable forumforexamining and helping tosolvethemaineconomic andpolitical problems ofourtime,willmakea positive contribution tothesolution ofthethornyproblems oftheforeign debt, together withtheefforts thatarealready beingmadetoconvene aninternational conference onmonetary andfinancial resources fordevelopment. Inmentioning thedramatic situation presently facedbytheunderdeveloped countries asaresultofthecapitalist economic crisissurrounding themandofthe unequal exchange holding themback,wecannotforgetthetragedy naturehasjust inflicted ononeofthem,arespected memberoftheUnitedNations community and~
**Analysis**
The text appears to be a critique of the global economic system and the debt burden faced by developing countries, particularly in Latin America. It highlights the unfair nature of international trade, the exploitation of labor and natural resources, and the unsustainable debt situation. The text also references the need for a new international economic order and the importance of addressing underdevelopment.

**Category**
Economic development, International trade