As a result of dissatisfaction with existing multilateral institutions, the idea of establishing a developing countries' multilateral banking facility-the South Bank-was launched at the Fifth Summit Conference of the Non-Aligned Movement held in Colombo in 1976. Ever since then, the debate over...

Forty years after the signing of the final act of the Bretton Woods Conference on 22nd July 1944, which embodied the agreement on the World Bank and the International Monetary Fund, the World Bank now comprises three organisations: the International Bank for Reconstruction and Development...

Measures of different kinds are needed to cope with the manifold tasks arising in international development finance, and a variety of instruments, models and concepts have been suggested in the international discussion. The International Finance Corporation (IFC), a subsidiary of the World Bank,...

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...

The principal cause of the balance of payments deficits of the non-oil developing countries has altered since 1973: exogenous factors now play a far more important role than previously. The appropriateness of the conditions conventionally attached to IMF drawings needs to be re-examined in this...