text: Theissues andpolicies related totheleastdeveloped countries arecovered in programme 15ofthemedium-term plan. 2.Overall strategy 14.4Theresponsibilities andactivities ofUNCTADinrespect ofthoseissuesare indicated inthefoursubprogrammes described below. 14.5Member States cancontribute totheachievement oftheobjectives ofthe UNCTAD programmes byreaffirming theircommitment tostrengthen multilateral co-operation aimedatrevitalizing development andexpanding growth andtrade. In -2- Digitized by Dag Hammarskjöld Librarythisregard, theycantakethenecessary measures toimprove theenvironment for restoring thedevelopment process. Thedeveloped market-economy countries cantake co-ordinated action topromote stable andnon-inflationary growth anddealwith theirmutual imbalances inamannerthatwillbebeneficial todevelopment. Together withthecountries ofEastern Europe, theycancontribute tothe production potential ofdeveloping countries, improve access forexports ofthose countries andundertake appropriate structural adjustment. Theycanalsoexpand theireconomic assistance andincrease theflowofresources todeveloping countries. Thedeveloping countries, fortheirpart,acting inpursuit oftheir national objectives andpriorities, canstrengthen themobilization ofdomestic financial andhumanresources, including indigenous private capital and entrepreneurship; provide asuitable policy environment fortheinflow ofexternal financial resources; improve theeffectiveness oftheuseofexternal anddomestic resources; andintensify theirmutual co-operation inpursuance ofnational and collective self-reliance. 14.6Policyinitiatives bydeveloping countries torestore themomentum ofgrowth totheireconomies willneedtobesupplemented byco-ordinated action byother countries andinternational organizations intheinterrelated areasoftrade, money andfinance. Inseeking torevive andsustain economic growthinthedeveloping countries, asthematerial basefortheirdevelopment, national andinternational policy makerswillhavetopayincreased attention totheimportance ofthe qualitative components ofdevelopment objectives, including ecologically sustainable growth andtheneedforfullparticipation ofallsections ofthe population inthedevelopment process andanequitable distribution ofthebenefits ofgrowth. Forthefulfillment ofthoseaims,Governments, enterprises andother actorsinthedevelopment process willhavetoenhance economic efficiency and socialresponsibility andtohandle interdependence through appropriate intergovernmental andnational action, inacomprehensive andbroad-based manner to ensure mutual benefit forall,especially developing countries. 14.7Thesecretariat willneedtomakeitsowncontribution toenhancing the effectiveness ofUNCTAD asaninstrument ofinternational co-operation for development bystrengthening itssupport forintergovernmental consultations and negotiations, itsresearch andconeeptual innovation capacity andtheinteraction ofitsresearch workwithoperational activities. 14.8Withregard toco-ordination andco-operation, UNCTAD has,within the Secretariat, primary responsibility formonetary andfinancial issues including debtproblems ofdeveloping countries, although within theUnited Nations system, theWorldBankandtheInternational Monetary Fund(IMF)havespecialized expertise inthoseareas. Inthecontext oftheglobal analysis andmonitoring responsibilities oftheDepartment ofInternational Economic andSocial ~ffairs, UNCTAD andtheDepartment willco-operate closely inthoseareas. Inconnection withdebt-management systems, UNCTADwillcontinue toco-o~dinate itsworkwiththe WorldBank, IMFandothermultilateral institutions thatareactiveinthefield. Similarly, UNCTADwillcontinue itsco-operation withtheUnited Nations Institute forTraining andResearch (UNITAR) intheareaoftraining related todebt management. -3-
analysis: The text discusses the role of the United Nations Conference on Trade and Development (UNCTAD) in promoting economic development, international cooperation, and sustainable growth among developing countries. It highlights the importance of strengthening multilateral cooperation, improving the environment for development, and enhancing economic efficiency and social responsibility. The text also mentions the need for coordinated action among countries and international organizations to address debt problems and promote equitable distribution of the benefits of growth.