effectiveness of international co-operation mechanisms , as well as the institutions acting in the name of the moral and intellectual solidarity of mankind. It i8 difficult to place the entire blame for this situation on the United Nations, which merely reflects the lack of political will among the wealthy countries to make the necessary major structural changes. NR/ljb A/40/w. 19 51 (Mr. Eetime, Haiti) iIowever, after due analyeic, we mat stress the following points. Firat Of all, the reaponce given by the international cornunity 80 Far on the problems of underdevelopment has not been eufficient considering the scope of the means of the third world. Indeed, in all the orwial areae, the tranofer of resoutaes to tho poor nations has been dramatically insufficient. Thus the precarioue situation of the 19708 Ped, after the recent periad of international recession, to a swtacular increase in the North-South eoonmic gap, aa shown in the persistent worsening of the term of trade, the drastic fall of export receipts in come cases, and the tensions brought about by the third world@8 foreign debt, whioh is 40 Per cent of its gross national produot, with 36 per cent short-term commercial .IOU rs. The level of indebtedness has exaeeded $800 billion and it will continue to be an element of inetability in the international system unless appropriate measures are carried out to take into account the effective reimbursement capacity of the countries concerned irnd the need to guarantee their investment programmes. The debt problem has become a priority issue for all developing nations. We mu5t stress its serious social and political consequences, as history has taught us that the transfer of international capital in the form of loan6 or direct investment6 has throughout the nineteenth and twentieth centuries played an 
**Analysis**
The text discusses the effectiveness of international cooperation mechanisms and institutions in addressing the problems of underdevelopment, particularly in the context of the North-South economic gap and foreign debt. It highlights the insufficient transfer of resources to poor nations, the increasing debt burden, and the serious social and political consequences of this situation. This suggests that the text is focused on economic issues rather than other categories.

**Category**
Economic development, International trade