delegation commented that the measures proposed in the report were not appropriate for debt owed to Governments and that there could be greater analysis of the role of foreign direct investment as a means to reduce the burden of debt. Another -31-delegation observed that the proposals in the report should not stand in the way of convergence between debtor countries and transnational banks. 81. Some delegations expressed the opinion that the discussion of the debt issue fell outside the mandate of the Commission on Transnational Corporations. One delegation disagreed with the observation in the report that the debt strategy outlined in the Brady plan would not have a significant effect on debt reduction and also with the proposal for the creation of a new institution. The delegation stressed the need for linking debt reduction to policy reforms and for a case-by-case approach. 82. Several delegations offered suggestions for future work by the Centre concerning the role of transnational banks. Among them were the role of transnational banks in the development of the financial sector and capital markets; the impact of changes in regulatory policies; the role of transnational corporations in securing access to foreign direct investment and international trade; the positive contributions by transnational banks through on-shore operations and their role in capital flight; and the analysis of different countries' experiences with debt-equity swaps from the point of view of their success in attracting foreign direct investment, the extent of appropriation of discounts by debtor countries, the impact on inflation and contribution to exports. 83. In his concluding statement, the Acting Assistant Director thanked the delegates for their comments on the report. He observed that no one disputed the seriousness of the debt problem both in the context of overall development and of impact on flows of foreign direct investment and stated that the Centre would stand 
**Analysis**
The text appears to be discussing the role of transnational corporations and banks in the context of debt reduction and foreign direct investment. The language used suggests a focus on economic development and international trade, with references to debt-equity swaps, foreign direct investment, and capital markets.

**Category**
International trade, Economic development