text: on its eve. Within just a few years of the Decade’s outset, many developing countries encountered such adverse external conditions as a sharp drop in the prices of the non-oil primary commodities on which they relied for much of their export earnings, and a steep rise in real interest rates which resulted in serious debt-servicing problems, particularly in middle-income countries in Latin America. As the Decade advanced, the downturn in growth became more obvious for most developing countries, with the few exceptions of newly industrialised countries and some other countries in East, South-East and South Asia. Low or negative growth was experienced by the least developed countries, particularly in sub-Saharan Africa, where countries were also ravaged by drought, famine, war and other ~lisasters. 11. The slow-down of economic growth led to a significant deterioration of living standards in already low-income countries of Africa, but also in Latin America and Western Asia. The rate of growth in per capita gross domestic product (GDP) in Africa fell from 1.9 per cent a year during the 1971-1980 period to -3.3 per cent a year during the 1981-1988 period, in Latin Amarica from 3.0 per cent to -1.1 per cent, and in Western Asia from 2.8 per cent to -4.3 per cent. Q/ Per capita GDP in constant 1980 United States dollars in sub-Saharan Africa declined from $US 553 in 1980 to $US 427 in 1988. 51 12. The developing world, which had been historically the net recipient of financial resources, became the net supplier of such resources to the developed world. By 1988 the level of this transfer had reached $US 30 billion. 6/ Rising costs and increasing difficulties in external financing hit most severely those Governments which relied, for the financing of their public investment, on external
analysis: The text primarily discusses the economic situation of developing countries, specifically the decline in economic growth, debt-servicing problems, and the shift from being net recipients of financial resources to net suppliers. The text also mentions the impact of this decline on living standards, particularly in Africa. The focus is on macroeconomic issues, international finance, and the effects on the general population, rather than specific sectors like agriculture or industry.