text: and a stronq contrast between their export profile and the structure of in te rna t ional demand • To these, other siqnificant drawbacks should be added, amonq which unresolved macro-economic imbalances, technological backwardness and the erosion of Government financial and administrative capabilities are of particular impOrtance. Therefore our new international agenda must be built on the interrelationship between the unresolved problems of the past decade and the new priorities, thus allowinq us to make the United Nations institutionally capable of effective action on the ever chanqing scene of contempOrary international economics. The qreat challenqe facinq this institution in the forthcominq decade is its contribution to a rediscovery of the Path that will lead our countries towards the benefits of economic and social development, the path that was lost in the turbulence of the decade just ended. Of course, within this context nobody can iqnore the relationshiP between national policies and the international economic system. It is obvious that economies must ~e adjusted, stabilized and attuned to world technological dhanqe. Public and private sectors must be nodernized and more austere consumption patterns must be implemented in all our societies. Nevertheless the results of domestic efforts to overcome the crisis will depend largely on the external context. Aronq the different elements that will condition d:>mestic efforts and may also render them useless, four are worth noting. The first is external debt, which limits both the caPacity to import and the capacity to invest of a larqe number of our countries' economies. It is not possible to thin< of a revitalization of development while the majority of develoPinq nations continue to transfer vast amounts of resources to the industrialized world. In the case of Latin America and the Caribbean, the RH/12 A/S-18/PV. 8 53 CMr. Paolillo, Uruquay) 
analysis: The text discusses the challenges and priorities for international economic development, emphasizing the need for countries to adjust to the global economy, manage external debt, and implement sustainable consumption patterns. It also highlights the importance of the United Nations in addressing these challenges and promoting economic and social development.