text: currency in place of the ekwele. Although there have been adjustment problems in establishing appropriate internal rates (e.g., prices, nages, etc.), these problens seem to be on the way to a solution. The country has gained tbe immediate advantage of having a convertible currency as well as a relief from the negative pressures caused by the previous overvalued national currency on both production and exports. Menbership also entails acceptance of discipline in fiscal and monetary policy which, in turn, will help restore international confidence. 51. The Gov rnment fully appreciates the important role which the private sector can play in national development and has already undertaken a number of measures designed to encourage private activity. Equatorial Guinears menbership in UDEAC and BEAC and the enactment of a new investment code will facilitate this process. The Government is finalizing t,he promulgation of national legislation which would complement these efforts. 52. Finally, the Government, with the support of UNDP, has initiated a process of consult,ations with its development partners leading to the convening of a round-table meeting in early 1986. To this end, the Government has already began the preparation of a comprehensive development plan and envisages a continuing series of consultations with the donor community on bot,h the overall strategy aswell as on specific sectors.A/40/ 430 Eng Iish Page 18 V. CONCLUSIONS AND RECOI'4MENDATIONS 53. In view of the fact that the Government is in the process of formulating a nest development programme, it was agreed that this report would not at,tempt to identifyspecific priority projects. The mission would, however, call to the attention ofthe international community t.he following general conclusions and recommendations. 54. Reference has been made previously to a very critical immediate problem confronting Equatorial Guinea with regard to external accounts, in particular the debt-servicing proQlem. The international community is strongly urged to
analysis: The text discusses the economic development of Equatorial Guinea, specifically the country's transition to a convertible currency, the impact on trade and exports, and the government's efforts to encourage private sector activity. It also mentions the country's debt-servicing problem and the need for international support.