text: Experience shows that a balanced development of any society, both economically and socially, is best achieved if the political climate is characterized by democracy and pluralism. Economic decline and poverty lie at the oore of the environmental problems facing in particular the least developed countries. Poor nations and poor people are forced to overexploit their natural resources in order to meet pressing short-term needs. But this leads to environmental degradation -such as desertification, land degradation and flooding -which threatens the very basis of their future existence. JP/td A/S-18/PV. 3 4 (Ms. Hjelm-wallen, Sweden) It is vital that developing countries be provided with the .means to reverse this process. Indeed, it is also vital to the industrialized world that this process be reversed. Concerns for the environment must permeate all our endeavours and all our policies and activities. At the same time, it must be recognized that without economic growth no sustained development efforts will be possible. The large transfer of resources away from the developing world continues. The rich part of the world is in fact a net receiver of financial resources. This is an untenable situation. Many countries have made great efforts to deal with the debt crisis by engaging in comprehensive economic adjustment and recovery programmes. Such programmes are the key element in any recovery. As can be seen from individual country experiences, these programmes are beginning to have a positive effect. Yet, despite these efforts, most countries can see little or no improvement in their debt situation. The debt burden continues to frustrate efforts towards long-term development. For severely indebted middle-income countries the strengthened debt strategy launched last year will be of great importance. It is too early to predict how efficient it will be in reducing debt and increasing financial flows, particularly 
analysis: The text discusses the interconnectedness of economic development, environmental degradation, and debt crisis in developing countries. It highlights the need for a balanced approach that addresses these issues simultaneously, emphasizing the importance of democracy, pluralism, and economic growth. The text also touches on the need for international cooperation and debt relief.