text: impairing prospects forgrowth anddevelopment. Theburden ofadjustment has beendisproportionately highfordeveloping countries andisexacting unacceptably highsocial andpolitical costs. Fortheseregions. the19805have beenviewed asalostdecade fordevelopment. "12.Themounting external indebtedness ofdeveloping countries has persisted andworsened during thisperiod. Thedebtproblem emerged asa principal causeoftheeconomic stalemate ofthesecountries. impeding their economic growth anddevelopment. Partial solutions havemerely succeeded in preventing amajorfinancial andmonetary world-wide crisis butarestill inadequate insubstantially reducing thedebtburden ofdeveloping countries. Thisproblem hasbeenaggravated byhighinterest rates, contributing tothe lackofinvestment andcessation ofnewfinancial flows. "13.Connected withthi.sproblem hasbeenadeterioration inthetermsof tradeofdeveloping countries andlong-term downward trendintheprices of commodities withdevastating effects forcommodity-dependent developing countries. Structural rigidities andresistance tostructural changes have exacerbated protectionism inthedeveloped countries, impeding access ofexports fromdeveloping countries. I .. .A/AC.233/L.7 English Page7 "14.Allthesefactors haveresulted inamassive negative transfer of resources fromthedeveloping tothedeveloped countries, depriving theformer ofmuchneeded resources fortheireconomic growth anddevelopment. "15. Duetothenegative impact oftheinternational economic situation, andasaresultofsevere adjustment measures, pUblic expenditures oneducation, health, housing, welfare, andphysical infrastructure havebeendramatically reduced, placing aheavyburden onthepopulation asawholeandonthemost vulnerable groups, increasing thelevels ofextreme poverty whichhasbecome one ofthemostserious obstacles forlong-term developm~nt andtheorigin of political instability andsocial turmoil. "16. persist in nationallyThe the andadverse andwell-known conditions of yearsaheadunless remedial measures internationally.the1980s aretakenarelikely to promptly, both "Challenge forthe19909. "17.Thechallenge forthe1990sshould beconfronted inthecontext of increasing interdependence andintegration oftheworldeconomy andcollective responsibility infinding equitable anddurable solutions totheproblems faced bythedeveloping countries, through therevitalization oftheireconomic growth anddevelopment. "18.Economic growth depends ontheexistence ofaninternational economic environment wheredeveloping countries canexerttheircompetitiveness through access tomarkets andtoscience andtechnology, andwheretheycansucceed in improving thequality oftheirhwnancapital andmodernize theireconomies. "19.Theinternational community should seektoreverse thetrends ofthe 19805andreachagreement inaddressing adequately thepressing interrelated problems ofmoney, finance, tradeanddevelopment. "20.Regional economic integration represents animportant mechanism for expanding tradeandinvestment indeveloping countries andtheseefforts should beencouraged. Nevertheless, tradeliberalization intheEuropean Economic Community by1992andbetween theUnited States andCanada shoulcl aimto generate positive impulses forworldtradeanddevelopment andavoid discriminatory practices. "21.Eastern European countries areundergoing profound econom.ic and political changes oriented towards anewintegration intotheworldeconomy. It ishopedthatthisprocess should opennewopportunities forexport markets of dev~loping countries. "22.Itisrecognized thattherevitalization ofgrowth anddevelopment in
analysis: The text appears to be discussing the challenges faced by developing countries in achieving economic growth and development, with a focus on the impact of external factors such as debt, trade, and international economic conditions. It also touches on the importance of education, health, and infrastructure in achieving long-term development.