text: only the stability and predictability of major economic parameters but will also result in releasing greater savings of resources that could then be directed towards promoting direct foreign investment in dev~loping countries. .RM/31 A/S-18/PV.2 148 (Mr. Farah, Djibouti) In the same vein the new era of East-West co-operation, coupled with an abatement of regional tension, is likely to lead to substantial reduction in military expenditures that, no doubt, will result in the release of additional resources for the revitalization of economic growth. Unfavourable climatic conditions, recurrent drought and growing desertification have aggravated the situation. In the African continent 60 per cent of the available land is arid, and every year more than 6 million hectares of land are rendered useless. On the other hand, the United Nations Plan of Action for researdl oo desertification, adopted more than 13 years ago, remains inactive. We hope that the forthcoming United Nations Conference on Environment and Development will deal effectively with this problem. The solution to problems of development and environment requires global co-operation. The Government of Djibouti believes that the 1992 Conference should define concrete objectives and reach legally binding and enforceable agreements. Such agreements should also define the financial implications and the question of transfer of technology. To ensure the success of the Conference all countries must participate on an equal footing in the preparatory process. F.cological problems can only be resolved through socio-economic development. The problems created by over-consumption in the industrialized societies are among the major causes of the environmental challenges facing the international community. All nations must choose balanced ways of life to guarantee a less polluted environment and engage in better management of natural resources. Africa is aware that it bears the primary responsibility for its own development. It was in that spirit that the United Nations Programme of Action for 
analysis: The text discusses the importance of stability and predictability in major economic parameters, and how this can lead to increased savings and investment in developing countries. It also touches on the impact of climate change and desertification on African countries, and the need for global cooperation to address these issues. The text seems to focus more on the macroeconomic and environmental aspects, rather than specific sectors like industry or agriculture.