MANILA Oct 9 : Mahbub UI Haq. Special Adviser to the Administrator of the United Nations Development Programme (UNDP), said developed countries cannot continue collecting debts from poor nations while denying them trade access, reports AFP.

Mahbub proposed the creation of a UN Economic Security Council to mediate the write-off which he said should Involve a reciprocal gesture from debtor nations.

AP adds: Mahbub called on Wednesday for international talks to write off developing countries' debt if they agree to divert savings lo education and technology and nol to corrupt rulers.

Developing nations cur-

rently owe about 1.3 trillion Dollars lo foreign govern men Is. banks and other lending institutions.

"I am certainly in favour of a very mafor global bargain to write off this debt." Mahbub, former Finance of Minister of Pakistan, told reporters. 'This kind of debt can never be paid."

Mahbub said that without debt relief and economic improvements, developed countries like the United States, Japan and Western European nations will (acc a tidal wave of immigrants and illegal workers form the Third World seeking a better livelihood.

They have a high slake In it because in a few decades, people will start travelling if the opportunities do not," he said.