non-inflationary policies and to overcome underdevelopment is a direct outcome of the inability of the major developed market economies individually to observe fiscal discipline and jointly to co-ordinate their macro-economic POlicies. The very strategy for dealing with the debt crisis constitutes a demonstration of the break-down of international economic solidarity. Having been exclusively conceived BHS/jl A/S-18/PV. 7 82 (Mr. Nogueira-Batista, Brazil) by the creditors. without anv participation of the debtors, it had, as a natural consequence, foremost in sight the protection of the international banking system· rather tha-1 the development needs of the indebted nations. The crisis of multilateral economic co-operation has, ironically, come about against a background of a growing economic interrelationship of national economies. This increasinq interdependence resulting more from technological changes than from autonomous decisions affects developing countries in particular • Their grCMth prospects have become, in fact, more dependent on a favourable or, at least, not hostile international economic environment. What has been seen, however, through the entire decade of the 1980s, is the persistence of a situation highly unfavourable to developing countries~ a continuous decline in comnodi tv prices, restricted export opportunities for their manufactured goods and, for the indebted nations, which constitute the ma jori tv among them, also restricted access to the world financial markets. With less trade as well as less aid, developing countries as a whole became heavy exporters of resources to the developed market economies. In net financial resources, about $250 billion have been transferred from the South to the North since the start of the debt crisis, a sum roughly comparable, in current dollars, to the total amount gr.anted by the United States for the reconstruction of Western Europe under the Marshall Plan. Durinq the last decade, much proqress was achieved in the political sphere in 
**Analysis**
The text primarily discusses the economic issues faced by developing countries, particularly the debt crisis, and its impact on their growth prospects. It highlights the lack of international cooperation and solidarity, and how the debt crisis was managed to protect the interests of creditors rather than the debtors. The text also touches on the decline in commodity prices, restricted export opportunities, and limited access to financial markets, which have led to a significant transfer of resources from the South to the North.

**Category**
Economic development, International trade