i{hether the adj us lment-rela ted cut-backs in investment and human resource development rdill have reduced the capacity for growth in the nedium term and whether the stimulus to gror'th through export expansion will continue. 39. Even afEer economic adjustment, the abllity to service foreign debt is contingent on obtaj.ning satisfactory prices for commodity exports and significantly growing export sales. The vulnerability to interest rate fluctuations of countriesltilh large private foreiqn debt also impedes lhe full restoration of confidence. Thus, uncertainty prevails in spite of progress made. Indeed. the fnterim Committee of the IMF recently found it necessary to call upon the lndustrial countries to consider resuming official export credit cover for countries rrhose external debt had been rescheduLed, Hhose prospects of economic progress lrere god and which were undertaking salisfactory adjugtnent policies. 17/ 40, Numerous proposals have been flrade over the past two years to alleviate the debt burden of devel,oping countries, incLuding forgiving outright gome official debt of low-incone coun!ries and revising establisbed principles for reatructuring Che debt of all countries, !g/ The international conmunity appears to have reached a consensus on at least one proposal, naoely, the appropriateness of multi-year reschedulings lrhen renegollating debts of countries undergoing econonic adjustment. In this connection, the Interim Committee welcomed the contribution to improved credi twor thi ness expected from recent rnulti-year reschedulings of commercial debt. It also welcomed the intention of the paris Club to consider cases of multi-year reschedulings of official debt. 41. It Lhus appears tha! the framework for debt renegotiations continues to evolve and to be influenced by intergover nmenta 1 bodies such as the InEerim CommiEtee aod the Trade and Development Board of the United NaEions Conference on Trade and Development (UIICTAD), which agreed to a number of conclusions last year forfurtbering the iRplementation of previously agreed-on features aimed at guiding tbe
**Analysis**
The text discusses the economic situation of developing countries, specifically their debt burden, and the efforts to alleviate it through debt renegotiations and international cooperation. It also touches on the impact of economic adjustment on growth and confidence. Given the focus on economic development, debt, and international cooperation, it seems likely that this text belongs to the category of economic development.

**Category**
Economic development, International trade