The main objectors to a link being established between special drawing rights (SDRs) and the financing of development have in the past been the industrial countries. They have been pointing out that SDRs were created for other purposes - more effective control over international liquidity - and...

Africa's total debt outstanding, which doubled during the 1980s, represents a serious threat to the continent's prospects of economic recovery and long-term development. Professor Ezenwe examines the situation in detail and proposes policy action towards a solution.

Problems of indebtedness in developing countries are not isolated occurrences. The example of the Philippines, however, is for many reasons a most interesting one. On the one hand, borrowing already once culminated in a debt crisis at the end of the 60s. On the other, the Philippine foreign debt...

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...