A sudden and radical reversal of financial flows to developing countries has occurred since 1982. Controversy exists, however, as to the scale of the actual outflow of resources and as to whether too much emphasis has been placed in the past on adjustment efforts. The following article attempts...

So far, it has been possible to stave off really serious consequences for the world economy and the international financial system since the developing-country debt crisis started in 1982. Yet for many developing countries, external debt problems and the underlying economic crisis are as...

A large number of developing countries have introduced trade policy reforms in recent years. These have been supported by export promotion projects in the context of bilateral and multilateral development cooperation. The results of the advisory approach so far adopted have been disappointing on...

A fundamental change is emerging in the World Bank's perception of the problems of the debt overhang and in its ideas for development strategies. The author examines the implications for debtor countries.