session of the General Assembly as well as at other meetings where the subject had been discussed. B. Compensatory financing of export earnings shortfalls: 10/ decision 317 (S-XIV) The representative of the united States of America 11/ recalled that his delegation had voted against resolution 157 (VI). It continued to maintain that export earnings stabilization was an overall balance-of-payments problem properly addressed by the International Monetary Fund. The United States had not participated in the formulation of the conclusions concerning compensatory financing of export earnings shortfalls of the current special session. He thus stated for the record that the united States did not associate itself with those conclusions. The representative of Canada 11/ recalled that his delegation had been unable to join in the adoption of resolution 157 (VI) and had made a statement at that time setting out its views on the issue of compensatory financing and indicating its difficulties with the provisions of resolution 157 (VI) calling for the establishment of an expert group. He drew the Board's attention to the contents of that statement, 10/ as well as to its statement during the current session. 12/ Despite its inability to agree with the contents of resolution 157 (VI), it had co-operated with the work of the Expert Group and participated in the discussion at the current special session of the Board. However, he expressed reservations with respect to certain paragraphs of the decision which the Board was being called upon to adopt, particularly paragraphs 7 and 8 on future work in UNCTAD. Canada had looked with interest at the Expert Group's report, and especially its concentration on the contribution which supply-side factors played in export earnings instability. While his delegation had clearly stated that it did not -35-believe that the need for an additional facility had by any means been proven - a 
**Analysis**
The text appears to be discussing a topic related to international trade and finance, specifically the compensatory financing of export earnings shortfalls and the role of the United Nations Conference on Trade and Development (UNCTAD) in addressing this issue. The language used is formal and technical, suggesting a high-level discussion among international organizations and governments.

**Category**
International trade