Trade Promotion through Debt-Seryicing

Neither more aid nor vigorous export promotion is a complete answer to the balance of payments problem of the developing countries.
A larger flow of aid and foreign capital to the developing countries brings in its wake the problem of debt-servicing which, in turn, requires a sharp expansion of exports at some future date. But expansion of exports to the developed countries is not just a matter of vigorous export promotion by the developing countries or liberalisation of trade policies by the developed countries.