§ Lord Brockway
asked Her Majesty's Government:
What response they have made to the disclosure in the report for 1982 issued by the United Nations Conference on Trade and Development that third world countries are suffering the gravest economic crisis since the present depression due, among other causes, to monetarist policies, pressure on external payments, the collapse of commodity prices, and the strain of interest and profit remittances.
§ Lord Skelmersdale
The Government are fully aware of the economic difficulties presently facing developing countries. We are actively engaged in efforts to help these countries to overcome their problems, both through bilateral and international action. The report to which the noble Lord refers was considered at the 25th Session of the UNCTAD Trade and Development Board in Geneva last month. In a joint statement, Community countries described the report as providing "an important tool" for addressing the issues to be raised at UNCTAD VI in June next year.