text: consumption. As such, the country has to maintain relatively hiqh foreiqn-exchanqe reserves in order to maintain internal and external financial equilibrium. The narrow economic resource base also Places Seychelles at a disadvantaqe in the context of international trade, since our small economy cannot afford to subsidize· its major exports, the latter beinq confined to tourism and fishing. In the case of larger economies, a particular export commodity or service can always be subsidized and supported by a broad variety of other export Products. One cannot overemphasize the very hiqh per capita cost of providina services to the pUblic in a country as small as Sevchelles. While parts and airports miqht be an absolute necessi tv, even the smallest of those has to conform to international standards, irrespective of the size of the popUlation they serve. It is Precisely because small States have to invest disproportionatelY larae amounts in their socio-economic infrastructure, often by borrowing externally, that they have relatively hiqn levels of debt, esPeciallY if that is measured in terms of debt per capita. We feel that it is therefore incumbent on the international communitY to use the special needs of small island States as the main criterion for determininq the level of assistance and the conditions on which it is provided, rather than a distorted qross national product per capita, so as not to jeopardize past achievements or penalize current development effort·s. RM/9 A/S-18/PV. 8 36 (Mrs. St.· Jorre, Se,.,chelles) There is a need fa: a more flexible approach to economic co-operation, one which takes into oonsideration the diverse needs of developing countries, particularly the special difficulties confronting small multi-island States. One would exPect initiation of more flexible oo-operation POlicies to be translated over ti~ into a reversal of our deteriorating debt structure. That would also 
analysis: The text discusses the economic challenges faced by small island states, specifically Seychelles, and the need for a more flexible approach to economic cooperation. It highlights the difficulties of maintaining financial equilibrium, managing debt, and providing public services in a small economy. The text also touches on the importance of considering the special needs of small island states in international economic cooperation.