This paper evaluates progress made under ESAF-supported programs in attaining external viability, restoring economic growth, and implementing structural reforms. Performance is evaluated for 19 countries that entered ESAF arrangements by mid-1992, against the background of their initial...

Despite massive investment of money and research aimed at ameliorating third-world poverty, the development strategies of the international financial institutions over the past few decades have been a profound failure. Under the tutelage of the World Bank, developing countries have experienced...