increasing foreign direct investment flows into developing countries. In addition, new technologies and materials had contributed to the increase in the share of foreign direct investment going to developed countries at the expense of .developing countries. One delegation also stressed the importance of the consistency and stability of foreign direct investment policies in attracting new investments by transna~ional corporations. Another delegation suggested that it was indispensable for specific preferential measures, particularly in terms of encouragement for foreign direct investment, to be taken by the countries of origin in the framework of a contract of progress and prosperity supported by the appropriate financial mechanism. 8. A number of delegations pointed out that the total debt of Latin America, amounting to $500 billion, was hindering the development process, particularly because of the negative net transfer of resources. They supported the idea of continuing the innovative measures initiated by banks with the aim of solving the debt problem. They expressed the view that the international economic environment did not help the initiatives for sustainable development. In that regard, international trade liberalization, access to international markets and improvement in the terms of trade were necessary to start the process of growth and development of their region. The need for the transfer of technology from developed countries through foreign direct investment or economic programmes was mentioned, and concern was expressed at the low levels of foreign direct investment in the region. Many of those delegations gave details of the fiscal and economic adjustment programmes that had been initiated. In that context, the developed countries were requested to create international conditions to enhance trade with developing countries and the promotion of foreign direct investment to the region. 9. Many delegations noted with concern that the least developed countries continued to be largely by-passed by foreign direct investment inflows despite 
**Analysis**
The text discusses various issues related to economic development, including foreign direct investment, debt, and trade. It highlights the challenges faced by developing countries, particularly Latin America, and emphasizes the need for international cooperation to address these issues. The text also touches on the importance of technology transfer and the promotion of foreign direct investment in the region.

**Category**
Economic development, International trade