The issue of capital flight from developing countries is discussed. The debt problems of developing countries coupled with the sharp decline in international lending to many countries have evoked great interest in the issue of private capital outflows, or capital flight, from these countries...

This paper reviews the World Bank lending for structural adjustment. The World Bank has always stressed the need to use limited investable resources efficiently. It has attempted to identify investment priorities in recipient countries and lent for projects that promised a high rate of return....

The enhancement of the IMF’s structural adjustment facility is discussed. In its April 1987 meeting, the IMF’s Interim Committee highlighted the plight of low-income countries, and outlined a strategy for their recovery. It emphasized that it is crucial for these countries to implement...

This paper examines the policy implications of structural changes in financial markets. Domestic financial markets have become less segmented, and the major financial centers more integrated. At the same time, the structural changes in financial markets have improved efficiency by lowering...

This paper presents the views of Michel Camdessus, Managing Director of the IMF, on how the IMF can face new challenges. Camdessus believes that the key responsibility for resolving debt difficulties lies with the indebted countries themselves. They need to be more resolute in adopting and...

This paper examines the importance of national planning for economic development of a country. The paper highlights that when World War II began, Soviet Russia was the only country engaged in systematic development planning, and then only since 1929, when its First Five-Year Plan was approved....

This paper analyzes the effect of rapid inflation on a country’s international position. The paper highlights that when prices and costs in any country rise rapidly, goods produced in the country soon become more expensive than similar goods produced abroad. Unless the exchange rate changes,...

This paper analyzes the IMF’s Convention for Settlement of Investment Disputes. In March 1965, the Executive Directors of the IMF approved a Convention for submission to governments, together with a report commenting on the Convention’s principal features. The Convention establishes the...

This paper highlights that the annual meetings of the World Bank and its affiliates, the International Development Association (IDA) and the International Finance Corporation (IFC), and of the IMF, were held in September 1965 in Washington. At the Bank Group meetings, stress was laid on the...

The paper discusses development of smallholder tea cultivation and a new breed of planters in Kenya. As the work of land consolidation and registration progressed in Kenya, tea planting in areas that were ecologically suitable became increasingly popular. The paper highlights that with the help...