text: The problem of indebtedness, and even over-indebtedness, long ago reached untenable proportions for many developing countries. The implementation of corrective mechanisms has begun, and encouraging developments should be emphasized: unilateral debt cancellation, such as that announced by France in Dakar; preferential treatment for the public debt of the poorest and most heavily indebted countries at the time of the debt rescheduling of the Club of Paris~ and the signing of the first major agreements on bank debt reduction. But the current solutions· have still found only limited application. We should demonstrate more imagination and generosity in order to widen their implementation. The case of countries facing growing multilateral debt requires special attention, as does that of middle-income countries for which the reinforced strategy on debt can produce only limited results. Commodity prices have experienced erratic fluctuations in the past decade, almost always downward. The system for compensating export-earnings losses under the Lome Convention is an interesting approach that for the time being has no equivalent. Admittedly, we are basing our hopes on the Common Fund for Commodities, but here too nore imagination and financing are needed. RH/13 A/S-18/PV. 2 58 (Mr. Pelletier, France) There are seriou; difficulties with the comnodi ty agreements, and they requirE immediate consideration, but the principle should not be brought into question. Ir. this context the search for competitive export sectors has to become one of our new priorities when discussing basic commodities. Market regulation cannot be ignored, but should be restricted so as not to cancel out existing gains and the potential for progress: reasonable prices for comnodities should be a common objective for all nations. At the same time, the nations of the world, whether they have achieved more or less progress in economic development, are confronted with common challenges, and 
analysis: The text discusses the challenges faced by developing countries, particularly with regards to debt, commodity prices, and trade agreements. It emphasizes the need for creative solutions to these problems, including debt cancellation and market regulation. The text also touches on the idea of common challenges faced by all nations, regardless of their level of economic development.