economies experienced the longest uninterrupted period of economic expansion and that, during it, a number of developing countries achieved quite substantial economic success. However, it was also a decade in which several parts of the developing world, in particular that of Latin America and the Caribbean as a region, suffered economic decline and an overall increase in critical POVerty. The seriously affected States have nevertheless not stood idly by. They, and others, have engaged in a Process of structural adjustment. The widespread nature of this process is aptly illustrated in the 1989 annual report of the International Monetary Fund. Bv way of comparison, it is recorded that in 1980, 29 arrangements aimed at structural adjustment were concluded, whereas it was recently shown that more than 70 developing countries are undertaking, in one way or another, the task of adjusting their economies. Let me add that this changed situation also reflects the amelioration in some conditionalities, and generally a more enlightened approach by multilateral financial institutions. Success is in no way guaranteed. Structural adjustment is not easily come by. It is a painful and complex Process. The challenge does not arise only from the need to ensure that internal reform mechanisms are adequate and skilfully applied. This is so because our national economies are interlinked through trade, money, finance and technology and, as is known, transactions in these interrelated areas can generate impulses which impact positively and negatively on develoPmental efforts. While the task of adjustment is primarily the resPOnsibility of the State undertaking it, the desired results will require even further accommodation on the part of the multilateral financial institutions and, imPOrtantly, attitudinal and other changes in the national Policies of some developed countries. The purpose of these combined efforts should be the creation of a suitable environment which can BHS/ASW A/S-18/PV. 4 79-80 (Mr. Jackson, Guyana) 
**Analysis**
The text discusses the economic situation of developing countries, particularly in Latin America and the Caribbean, and the measures they have taken to achieve economic success. It mentions the concept of structural adjustment, a process of economic reform aimed at achieving economic stability and growth. The text also touches on the role of multilateral financial institutions and the need for cooperation between developed and developing countries. Given the focus on economic development and reform, it is likely that the text falls under the categories related to economic development.

**Category**
Economic development, International trade