Larosiere discusses the economic condition of both developing and industrialized countries. Examining gross national product data, he concludes that the world economy is in an unsatisfactory condition, with many countries experiencing deficits and inflation. In response, he calls for better economic policies, offering suggestions to improve economic growth. For oil-developing countries, Larosiere supports investing in energy. For non-oil developing countries, he asks for more international development assistance. Larosiere also describes the role of the International Monetary Fund (IMF) in the world economy. He explains the IMF's financing and the benefits of its economic programs. Larosiere closes by emphasizing that countries must implement good economic policies and make use of international monetary borrowing efficiently and effectively.