text: convergence of their economic performance and the strengthening of IMI.surveillance. Sone developed couneries also support the idea of a target zone for e*change rates, whj.ch i6 advocated by many developing countries. ll8. on international liguidity, the developed countries ln general feel that its supply has been adequate and they fear thae excessive liquidity could reigniteinflatlon. The aupply of llguidity j.a now being targely determined byinternatlonaL credit markets and, for an indivldual country, its availability depends mainly on the countryrs credi twor thiness, According to this view, it wlllbe mainly through the restoration of cr editwor Eh iness by means of adjustment measures that many developing countries now faclng difficulties can hope to obtaina ateady supply of liguidity in the future. The developed countries alsorecognize, however, that there are countries that do not have sufflcient access tointernat.ional credlt markets and that should be proviateat with adequate officialfinance while they are making adjustment efforts. 119. The original objective of the creation of special drawing righcs rda6 to nakethe supply of internatlonal resourceg less dependent on the balance of payments ofthe major reserve-cu r ! ency country and bo nake sDRs the principal reserve a€set tnthe long run. The developed countriea now feel Ehat changes thae have taken placein the internatlonal. monetary and financial field over the past decade, inpartlcular the increased importance of credit markets, appear to have altered theA/40/708 Eng Ii sh Page 28 role originally envisaged for SDRS. They call for a further examination of thequestion. Some developed countries, hosever, See a continuing and inportant role for SDRS and call for a new allocation of SDRS. I20, In respect of IMF operations, developed countries in general emphasize that the nonetary character of the institution must be preserved. They maintain, furthermore, thac the conditionality attached to access to IMF resources is essential for promoting adjustnent and for ensuring a sound international flbnetary
analysis: The text appears to be discussing the economic aspects of international finance, specifically the role of the International Monetary Fund (IMF) and the use of Special Drawing Rights (SDRs). The text mentions various economic concepts such as monetary policy, liquidity, and credit markets, which suggests that the category should be related to economic development and international trade.