transfer, a counterpart of the large net capital inflows into the world's largest economy and one of its most affluent. 6. But, although auantitatively very revealing, data on debt levels and debt service ratios do not capture fully the human suffering and political strains that they imply. Instead they are interpreted much in terms of adjustment success and progress rather than in terms of burdens imposed and the fortitude demanded from -34- the highly indebted countries in meeting commercial obligations - obligations which, though legally contractual, are fulfilled in international circumstances so inequitable as seriously to qualify them. 7. in today's circumstances of weak and unresponsive multilateral co-operation and international economic management, a subject which will be our major concern at this meeting, debt-rescheduling responds more to the wishes of the creditor than to the needs of the debtor. Thus, multi-year rescheduling and other improvements in handling difficult debt problems, which have been adopted in recent times, have been confined almost wholly to large middle-income countries. But, even for those countries, serious problems remain, since the prolonged nature of the economic burdens and political strains involved mean continuing high risks that things could go wrong. 8. At the time of our last meeting, the situation was grave in large parts of sub-Saharan Africa. We endeavoured to draw attention to the immediate relief required, as well as to the longer-term needs. Since that time, there has been some improvement in the weather in some parts of Africa, as well as in the international response. The response, especially in terms of emergency needs, has been encouraging and the role the United Nations played in this regard serves as a reminder of the great value and tremendous potential of multilateral co-operation. 9. But emergency problems are far from being resolved and the longer-term 
**Analysis**
The text discusses the issue of debt and its impact on countries, particularly in sub-Saharan Africa, highlighting the need for multilateral cooperation and humanitarian aid. It also touches on the themes of economic management and international relations. Given the focus on economic development and humanitarian aid, I hypothesize that the text is most closely related to these categories.

**Category**
International trade, Humanitarian aid and relief