The present arrangements for providing developing countries, and in particular the least developed countries, with international finance are inadequate in both quantitative and qualitative terms. Fundamental changes seem necessary. These changes might incorporate the establishment of a new...

When we look at all the challenges facing the world, including inequality, population migration, and climate change, we can see a role for development banking in nearly all of them. But will that role be played for good or ill? This book brings together two people who collectively draw on their...

The paper assesses the multilateral development financing system in the light of the replenishments of three key funds in 2013. It argues that the replenishments showed strong continuing support for each institution, but identifies challenges emerging from the reliance on traditional donors and...

The lending criteria applied by the IMF and the World Bank have been converging for some time. Considering also that since the floating of exchange rates in the early seventies the IMF seems to have lost in importance as a monetary institution, debate is growing on the question of whether the...

Following the introduction of its structural adjustment loans the World Bank became the object of the criticism that had until then been directed only at the IMF and its stabilisation and adjustment programmes. This article shows that structural adjustment loans do in fact take the traditional...

This paper analyzes influences on the credit standing of Multilateral Development Banks (MDBs), specifically the quality, diversification and single name concentration of their portfolios, and on the market practice known as Preferred Creditor Status (PCS), whereby sovereigns that default on...