The economic situation in the third world countries is still pathetic, and indeed appropriate possible measures are urgently required to achieve rapid economic growth and development.

Breaking through the viscious circle of poverty.  This can be done by supplementary capital resources with foreign investment and foreign aid, giving adequate incentives to stimulate production, increasing savings, etc.

Poor countries need to increase the supply of raw materials and process them to high added level final products for both the domestic and foreign markets.

Encouragement of self-help programmes e.g. the informal sector and private sector investment projects so as to mobilise people's efforts towards development.

LDCs need to formulate polices which are aimed at functional income distribution, so that the factors of production like land, labour and capital are adequately rewarded.

Poor countries need to put emphasis on progressive taxation of the rich in order to increase government revenue which can be used to provide the poor with subsidized goods and services.

Creation of job opportunities is equally significant. Poor countries are advised to employ labour intensive techniques of production to create employment and incomes for the majority of the people.

Developing nations are further advised to control their population through adequately publicized population programmes and policies e.g family planning.

Agro-based industrial activities should be encouraged and promoted to expand the agricultural sector which is the backborne of most LDCs.

Regional economic integration should be encouraged. Economic groupings like COMESA, SADC, ECOWAS, etc should be encouraged. These can provide joint venture investments and trade in several economic activities.

Reduce over-dependence on foreign capital resources. This can be achieved rough proper and efficient mobilization of the domestic resources.

Poor countries are advised to promote peace and stability, and avoid politic instabilities so as to provide a conducive political atmosphere that can promote development.

Educational reforms need to be revisited, in line with the manpower requirements of developing countries. People should be equipped with knowledge and skills, which can help them to solve and tackle their practical problems.

Diversify and improve on the export sector by introducing a wide variety export products for the export market to enable poor nations to earn the urgently foreign exchange required for development.

Proper utilization of foreign aid, whereby emphasis for this aid should aim financing and promoting the growth and development of agriculture, industry infrastructure, etc.

 

Poor countries should not over-depend on nature. They should encourage use irrigation schemes, fertilizers, mechanization, etc; in order to increase production for development.

 Improved financial management and discipline to mobilize financial resource both domestic and foreign. Emphasis should be made on the deployment resources in a bid to promote and encourage linkages within the economy.

Measures to alleviate poverty should be adopted e.g. better pricing agricultural products, rural development, programmes like "entandikwa" scheme, etc.

Generally, poor countries need to adopt stabilization programmes aimed correcting economic imbalances, preserving the country's financial stability and providing the foundation for eventual economic recovery.