In this journey, the first and most important stop we should take is to stanch the greatest source of danger and discord, that is, underdevelopment. For if one is not free of want, he cannot be free of fear. In the developing world, the toll from decades of turmoil and abject underdevelopment has been so debilitating that only international relief can help some of us back to our feet. But not even fish welcomes life inside a net. What we need is a new deal for the poor countries.
Development is particularly difficult for countries saddled by mountains of crippling debt.
Some 1.6 trillion dollars is now owed by developing countries, several of which have to use up to 95 percent of their hard currency revenues to service debt. In the meantime, development assistance is declining. This year, grants to developing countries may total 40 billion dollars-a mere half of what it was a quarter century ago. As earnest for our collective future, we should have meaningful debt relief for the world's heavily indebted poor countries immediately. Let us also see the fulfillment of the ODA promises made three decades ago.