A/RES/50/92
Page 2
debt-servicing problems of developing countries, and to help them exit from
the rescheduling process,
Emphasizing the importance for debtor countries of continuing to pursue
and intensify their efforts with respect to economic reforms, stabilization
and structural adjustment programmes, in order to raise savings and
investments, reduce inflation and improve economic efficiency, taking into
account the need to address the social aspects of development, including the
eradication of poverty, and their individual characteristics, as well as the
vulnerability of the poorer strata of their populations,
Stressing the urgent need for further assisting developing countries, in
particular the poorest and heavily indebted countries, especially in Africa,
in their efforts to improve their debt situation in view of their continued
very high level of total debt stock and servicing burdens,
Noting the urgent need for full, constructive and expeditious
implementation of various debt-relief measures undertaken by creditor
countries both within the framework of the Paris Club and through their
cancellations and equivalent relief of bilateral official debt,
Noting also that, owing to uneven developments within the context of the
evolving international debt strategy, further progress, including new and
concrete measures and innovative approaches, is essential as regards
contributing to effective, equitable, development-oriented and durable
solutions to the external debt and debt-servicing problems of developing
countries, particularly the poorest and heavily indebted countries,
Noting with concern the continuing debt and debt-servicing problems of
indebted developing countries as constituting an element adversely affecting
their development efforts and economic growth, and stressing the importance of
alleviating the onerous debt and debt-service burdens connected with various
types of debt of many developing countries, on the basis of an effective,
equitable, development-oriented and durable approach and, where appropriate,
addressing the full stock of debt of the poorest and most indebted developing
countries as a matter of priority,
Noting that multilateral lending operations are excluded from debt
restructuring and, in this regard, emphasizing the need for the consideration
of comprehensive approaches to assist low-income countries with substantial
multilateral debt problems through the flexible implementation of existing
instruments and new mechanisms where necessary,
Expressing its concern that, in a number of developing countries that
are making continuous and strenuous economic reform efforts, the burden of
debt and debt service continues to constitute a major obstacle to the
revitalization of the economic growth and development of those countries, in
particular the least developed among them,
Noting that those developing countries that have continued, at great
cost to themselves, to meet their international debt and debt-service
obligations in a timely fashion have done so despite serious external and
domestic financial constraints,
Expressing its concern that debt-relief measures taken so far have not
yet fully provided effective, equitable, development-oriented and durable
solutions to the outstanding debt and debt-servicing problems of a large
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