text: the provision of oDA, including increased programme lending and ba la nce-of-payments support. 85. While official financial flows have virtually staqnated, funds from other sources have failed to j.ncrease. In fact, there has been a net'outflo'.t of resources from the developing counCries on a scale that j.s becoming unsustainable. The growth of private bank lending, which was a major source of funds for many developing countri.es during the 1970s, has declined sharply since 1982 largely as a result of the debt crisis. High rates of interest reduced the attractiveness of bank loans to developing countries. Direct foreign investment in these counlries has also no! increased significantly. Policies to increase both types of finance for development need to be improved and aclively pursued concurrently lrith measures to increase the fto', of official finance. 86. tlevelopinq countries are airare of their responsi bi Ii ties in the solution of the current debt problem. The debt crisis cannot, however, be seen in isolation frotn other aspects of internationaL economic relationships, The crisis 'da s due largely to circumslances beyond the control of any developing country. A strategy of growth based on er{ternal borrowing was well received and advocated by the international comnunity, particularly the developed countries, during the 1970s. The events that touched off and aggravated the problem, including the deepest recession since the 1930s and high interest rates, could no! have been foreseen. Macro-economic policies in the developed market economies hold a large share of the responsibility in the evolution of the problem. 81 . No solution to the problem of international indebtedness lrill be posslble without an expanding vorfd economy. particularly sustained gro,rth in the developed countries. and a corresponding expansion of international trade. Measures of domestic adjuslment alone are vrholly inadeguate to the task. Developing countries
analysis: The text discusses the current debt crisis in developing countries, the decline of private bank lending and foreign investment, and the need for an expanding global economy to solve the problem. It also emphasizes the shared responsibility of developed countries in the evolution of the problem. This suggests that the text is primarily focused on economic issues and international relations.