vestiges ofcolonialism bewipedoffthefaceoftheearth. Thesituation ofthethird-world countries hasdramatically woi:sened sincetbe beginning ofthisdecade. Theirforeign debthasmultiplied, thetermsoftrade betwenthedeveloped capitalist countries andthedeveloping countries continue to betotallyunjustandtoconstitute anabuse;credits aregranted inunfair conditions; markets havecontracted owingtoprotectionist measures applied by developed capitalist countries against ourindustrial products andrawmaterials; and1:neinfluxofcapital, bothoffical andpi:ivate,iowunderdeveloped eounti:ies \Bcr/rd A/40/PV.9 73 (~r.Malmierca Peal!, Cuba) hasbeenreduced -allofwhichcontributes totheprogressive deterioration of theirfragile economies. Theforeign debtofdeveloping countries hasalready reached theimpressive figureofmorethan$900billion. LatinAmerica alonenowowes$360billion, more thanthetotaldebtofallthethird-world countries onlysixyearsago.Thetotal debtoftheAfrican countries, whichisover$160billion, hasagreater percapita impactthanLatinAmerica's if,inaddition tothelesserrelative development of thosecountries, weconsider theserious damagecausedbydrought andhungertoa largenumberofthem. Theeconomic crishasovertaken and,inaway,hasbeenthrustonthe economhs oftheless-developed countries. Wecansaythatwearedealing witha process thathadbeenintheoffingforsometimeandtheconsequences ofwhichare moreorlessserious, depending oneachcountry's economic resources andalsoon thegreater orlesserefficiency withwhichithasbeenabletodefenditself against thecrisisortotrytoovercome it. Thegroupofnon-aligned countries, whichconvened inLuanda afewweeksago fortheeighthministerial meeting oftheMovement, oweWestern countries atotal ofalmost $590billion. Thismeansthatwemustpayover$60billion for debt-servicing thisyearalone. Whatcouldourpeoples notdowithsuchasumof moneyifitwereusedtostimulate industry andagricultural production, to increase fooUproduction, healthdevelopment andeducation? Theinsurmountable problems-generated bytheexistence ofthisswollen debtdo notlieonlyinthedifficulties whichourcountries faceinpayingtheinterest. WhileitistruethatreceiVing credits tocovertheservicing ofthedebtraises theleveloftheirindebtedness inawaythatcallsintoquestion anypossibility ofdevelopment, andtherefore ofeventually repaying thedebt,theattempts that somecountries havemadetohonourtheircommitments -inunfairconditio.,s, aswe I IBCT/rd A/4O/PV.9 74-75 (Mr.Malmierca Peeli,Cuba)I Ibavealready seen,inwhichthedollarhasbeenovervalued several timesandhigh interest ratesprevail -havefailed, owingtotheseriousdeterioration inthe termsoftradeandtheresultant reduction intheirexportearnings forthisperiod. Ifweconsider thattheallocation of20percentofexportearnings topay theforeigndebt,farfromsolving thedebt,willincreaseitandispractically untenable, whatwillhappenwhenourcountries mustdevote-8.Jmanyarealready doing-57, 52, 45or36percentofdleirexportearnings tothispurpose? How canthesharpdropinthestandard oflivingofthemajorii:ysectors ofthe popul.ation becurbed? Havethedeflationary measures prescribed-by the International Monetary Fundmanaged tohaltthedesperation oftheworking classes, theimpoverishment ofthemiddleclasses, unemployment, theincrease inconsumer prices, andthereduction ofexports anddomestic production inthedeveloping countries? ThedailypapersinanyLatin-American country bearwitness tothecontrary - ashasalsobeenevident forsometimenowinthestatistical yearbooks ofthe Economic Commission forLatinAmerica andtheCaribbean. Whatistrueisthatthecapitalist countries' protectionist measures~ dumping; theovervaluation ofthedollar; thepersistence ofunequal termsof trade;highinterest rates;andthecurrent international monetary, financial and economic tradesystemasawhole-allworktothedetriment ofthedeveloping countries, haveprcmct0c are~erse transfer ofcapita! t~thedeveloped capitalist countries, andreinforce thedependence, underdevelopment andstagnation ofthe countries oftheso-called thirdworld.*JP/ed A/40/PV.9 76 (Hr.Malmierca Peoli,Cuba) Cubainsiststhetitisnecessary todoawaywiththeabysmal inequality that separates ourcountries" fromthedeveloped countries. wemusttherefore str"uggle toeradicate thepc:werty, hunger, sickness andilliteracy fromwhichhundreds of millions ofhumanbeingsstillsuffer. weaspiretoanewworldorder,basedon justice, equityandpeace,toreplace theunjust, unequal systemwhichnow prevails, inwhich,aswasproclaimed intheHavanaDeclaration of1979bythe
**Analysis**
The text primarily focuses on the economic struggles of developing countries, particularly those in Latin America and Africa, and the impact of colonialism, international trade, and debt on their economies. It also touches on the issue of poverty, hunger, and illiteracy. The text is critical of the current international economic system and the role of developed countries in perpetuating inequality and underdevelopment.

**Category**
Economic development, International trade