itsvarious aspects, (b)tosearchfornewapproaches andtoevolveappropriate development strategies tosupport multilateral lnational andbilateral efforts in resolving theexternal debtcrisisofdeveloping countries andotherhighly indebted countries and(c)toexamine theimplications ofthedebtcrisisforthe worldeconomy. (b)CourseofactionoftheSecretariat 12.44Research andanalysis willbeundertaken tomonitor thedebtsituation in itsvarious aspects, andconsultations willbecarried outwiththosewhoare eitheractually involved indebtdiscussions orwhohaveanintimate understanding oftheproblem tosearchfornewapproaches andevolveappropriate development strategies thatarebasedonlessons fromthecrisisthatledtotheeconomic stagnation inthe1980sinheavily indebted countries. 12.45 Thedebtproblem hasmanyaspects including political andsocial ramifications. Theinteraction amongdebt-servicing difficulties, investment and outputgrowthareparticularly important andwillbereviewed indepth. In addition, special attention willbegiventothesocialconsequences ofthe adjustment efforts andthechanging economic situation indeveloping countries with debt-servicing difficulties. 12.46Sinceaspects ofexternal debtarebeingexamined inUNCTAD Ithe International Monetary FundandtheWorldBankandintheregional commissions lthe planned activities underthesubprogramme willcontinue tobeundertaken inclose co-operation andco-ordination withtheseorganizations withaviewtoensure complementarity. -11----------------------------- SUBPROGRAMME 4.MOBILIZATION OFFINANCIAL RESOURCES, TAXATION AND ENTREPRENEURSHIP (a)Ob;ecHves 12.47 Thelegislative authority forsubprogramme 4derives fromGeneral Assembly resolutions 35/66, annex,paragraphs 96and110,and41/182; andEconomic and SocialCouncil resolutions 1980/13 and1988/74. 12.48Inthe1980sfinancial institutions inmanydeveloping countries faced serious difficulties. Thedomestic financial resources werenotalwaysutilized to thegreatest extentforeconomic andsocial development, andtherewasaneedto reducethegapbetween potential andactually mobilized resources through the formulation andimplementation ofsoundandappropriate fiscal andfinancial policies. Inthefiscalarea,taxpolicies wererequired thatwouldimprove the assessment andcollection oftaxesandtheallocation ofexpenditure. International co-operation ontaxmatters isimportant inthisregardbecause developing countries, likedeveloped countries, losesubstantial financial resources asaresultofinternational taxevasion andavoidance. Furthermore, measures suchastheelimination ofdoubletaxation andtheinclusion of tax-sparing provisions innational taxlegislation ofcapital exporting countries andtheconclusion ofbilateral taxtreaties wouldhelpdeveloping countries attract greater amounts offoreign investment. 12.49Developing countries havenotyetfullyexploited thecontribution that entrepreneurship canmaketoeconomic development. Thissituation ispartly dueto national policies notsufficiently gearedtothepromotion ofentrepreneurship, to deficiencies ininstitution building andtoalackoftargeted technical assistance forsmallentrepreneurs. Furthermore, thedevelopment ofentrepreneurship in developing countries suffered fromtheunfavourable international economic environment inthe1980s,inparticular fromthelackofsufficient export opportunities andinadequate availability ofcapital. 12.50 Theobjectives ofthesubprogramme are(a)tostudyissuesrelated tothe mobilization offinancial resources, taxation andentrepreneurship andtoprovide policyoptions andrecommendations toassist developing countries inmobilizing all available domestic financial resources andforeign financial resources ontermsand conditions compatible withnational priorities andlegislation; and(b)to recommend appropriate fiscal andfinancial policies andmeasures insupport of development, including measures toreformtaxsystems, combattaxevasion andwiden the tax base,andtodevelop options forbroadbaseddevelopment andencouraging
**Analysis**
The text primarily focuses on the external debt crisis of developing countries and the need for new approaches and development strategies to support multilateral and bilateral efforts in resolving this crisis. It also touches on the importance of mobilizing financial resources, taxation, and entrepreneurship for economic development. The text does not mention natural resources, environment, agriculture, forestry, fishing, health, education, employment, humanitarian aid, or culture, and it does not seem to be related to transport and communication or science and technology.

**Category**
Economic development, International trade