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...

In the beginning of 1972 Pakistan broke with the Commonwealth after an association of nearly 25 years. Apart from the political implications that formed the basis of this decision and that may follow from it, there are certain economic factors which merit attention.

Economists find it difficult to reach agreement about the effects on economic growth of depreciation of the money value. One reason is that they define certain terms in different ways, another one is that many other factors as well as inflation have an impact on economic growth. They may...

When announcing its ideas on development policy in the Second Development Decade which began in 1971, the Federal Government said that it "wishes to promote tourism in sultable less developed countries (LDCs) through improvement of the infrastructure, especially transport, provision of...

At Nairobi, during this year's annual conference of the International Monetary Fund, the Fund's President, Mr Robert S. McNamara, called upon the LDCs to treat a more equitable distribution of personal incomes as a priority aim. However, the LDCs' machinery for making policy decisions makes it...

Looking back at the 5th session, at the spirit of its debates and negotiations and at its results, one could indeed conclude that it reflected more cooperation than the preceding ones. Some of the reasons why this happened may be found in the general development. However, to a great extent it...