A/RES/55/184 from the rescheduling process and unsustainable debt burdens, and welcoming the efforts already made in this regard, Welcoming and emphasizing the importance of the efforts of debtor countries to pursue, despite the great social cost often involved, economic reforms and structural adjustment programmes that are aimed at achieving stability, raising domestic savings and investment, attaining competitiveness to take advantage of market access opportunities where available, reducing inflation, improving economic efficiency and addressing the social aspects of development, including the eradication of poverty and the development of social safety nets for the vulnerable and poorer strata of their populations, and encouraging them to continue in these efforts, Recognizing that close attention should be paid to the impact of economic reforms on the poor and, in this context, that the country-owned poverty reduction strategy papers linked to the Heavily Indebted Poor Countries Initiative should contribute to poverty reduction, Stressing the need for continuing global economic growth, equitable distribution of the opportunities and benefits of globalization and a continuing supportive international economic environment with regard to, inter alia, terms of trade, commodity prices, improved market access, trade practices, access to technology, exchange rates and international interest rates, and noting the continued need for resources for sustained economic growth and sustainable development of the developing countries, in accordance with the relevant General Assembly resolutions and the results of recent United Nations conferences, Noting that mechanisms such as debt rescheduling and debt conversions alone are not sufficient to resolve all of the problems relating to long-term debt sustainability, and, in this connection, stressing the continuing need for sound macroeconomic policies as well as the need for full, swift and effective implementation of initiatives that will further assist developing countries, in particular the poorest and most heavily indebted countries, especially in Africa, in their efforts to improve their debt situation, in view of their continued very high levels of total debt stock and debt-service burdens, Welcoming the enhanced Heavily Indebted Poor Countries Initiative, launched by the Group of Seven major industrialized countries at their meeting held at Cologne, Germany, from 18 to 20 June 1999, and the decisions on the enhanced initiative taken by the International Monetary Fund and the World Bank in October 1999 that are designed to provide deeper, broader and faster relief, Welcoming also the actions taken by creditor countries within the framework of the Paris Club and by some creditor countries through the cancellation of bilateral debts, and urging all creditor countries to participate in efforts to remedy the external debt and debt-servicing problems of developing countries, Welcoming further the adoption by the Executive Boards of the International Monetary Fund and the World Bank of a number of measures to speed up the implementation of the enhanced Heavily Indebted Poor Countries Initiative, including greater flexibility on track record with a focus on policy implementation, as well as the emphasis that the decision point may be reached and that debt relief may be provided before the finalization of full poverty reduction strategy papers, as long as interim poverty reduction strategy papers are agreed, and noting with 2