text: 18.TheDeclaration onInternational Economic Co-operation, inparticular the Revitalization ofEconomic Growth andDevelopment oftheDeveloping Countries (General Assembly resolution S-18/3), adopted attherecently concluded eighteenth special session oftheAssembly, reflects anewconsensus onglobal economic issues. Itreaf£irms theroleoftheOrganization asa"unique forum"wherethe fullrangeofeconomic andsocialissues canbeaddressed inanintegrated manner. Thisnewconsensus, whileacknowledging theresponsibility ofeachcountry forits owndevelopment andstressing theimportance ofnational policies, emphasizes the obligation o£theinternational community tocreate aglobal environment that facilitates economic growth andsocial development indeveloping countries. The UnitedNations wouldberequired toassisttheinternational community to accomplish thegoalsandcommitments contained intheDeclaration, whichnotonly provide afreshfocusanddirection foritsactivities butarealsolikelytohave apositive impact onforthcoming majordeliberations oneconomic andsocial questions. 19.Thedecisions andoutcome ofthosedeliberations aswellasdevelopments in thepolitical arena,including progress inthefieldofdisarmament, willgreatly influence theworkoftheOrgani2ation intheeconomic, social andrelated areas. Mostoftheissues ontheUnited Nations agendaareclosely interrelated; lackof progress inoneareacanretarddevelopments intheother. Thiscloseconnection within andamongtheissuesapplies withequalforcetotheoverall linkage between political, economic, social, humanitarian andotherquestions, whichhastobe borneinmindwhileplanning andcarrying outtheOrganization's futureactivities. 20.Inthisconnection, thereisneedtoensurethatalongwithaddressing the persistent andchronic economic andsocialproblems, theOrganization mustalsobe abletorespond quickly andeffectively toemerging issues andnewchallenges. Thiswillrequire aconscious redirection ofitsworkinmonitoring andanalysing economic andsocialtrends, withtheirpolitical consequences. TheOrganization wouldthushavetostrengthen itscapacity forearlyidentification ofpotential problems intheworldeconomy andtheirbroader implications andpointtheway towards theirsolution. 21.Someofthespecific areasofactivities inth~planperiodthatmerit elaboration areidentified inthefollowing paragraphs. Itshouldbeunderstood thatwhilemostoftheseactivities arebasedonlongstanding mandates, freshand moreprecise directions havebeenprovided inmanyareasbytherecentdecisions of theGeneral Assembly, particularly atitsseventeenth special session devoted to drugabusecontrol andtheeighteenth special session oneconomic growth and development. Inaddition, theelaboration oftheintarnational development strategy forthefourthUnitedNations development decade andthedecisions ofthe SecondUnited Nations Conference ontheLeastDeveloped Countries, theeighth session oftheUnited Nations Conference onTradeandDevelopment, the1992United Nations Conference onEnvironment andDevelopment, andthe1994meeting on population willalsodetermine theworkoftheOrganization intheplanperiod and itssearchforeffective meanstoimprove theinternational economic andsocial environment. *.... -6- Digitized by Dag Hammarskjöld LibraryI'22.Thenature andextentofdebtcrisisisnowthreatening notonlytheeconomic landsocialbutalsothepolitical stability ofmanycountries. Attheendof1989, !theoverall debtburdenofthedeveloping countries stoodat$1,200billion. Despite thefactthatthisquestion hasbeenamajoritemontheglobal agenda since1982,external indebtedness continues tocastalongshadowonthe international financial system, disturbing theresource flowandseriously impeding thedevelopment efforts oftheaffected countries. Thevarious ongoing efforts by Governments andbyprivate andinternational financial institutions havenotyet succeeded indefusing thecrisis. Itisrecognized thatefforts atalllevelsneed toberedoubled inordertoarriveatanequitable andlong-term solution. The United Nations hasadistinct responsibility toassisttheseefforts foranearly solution.
analysis: The text discusses the role of the United Nations in addressing global economic issues, such as debt crisis, economic growth, and development. It also mentions the importance of international cooperation and the need for the organization to respond quickly and effectively to emerging issues. The text highlights the connection between economic, social, and political issues and the need for the organization to address them in an integrated manner.