STWR - Share The World's Resources

A thought provoking collection of articles that lay bare the dynamics, the interlinkages and impact of debt, financial institutions and the making of a Global South.

Focus on the Global South, October 2000

Link to the full report

Extract: 

It is widely accepted that the quantum and pattern of cross-border financial flows have changed substantially during the second-half of the 20th century. Yet from the point of view of the developing countries one persistent and debilitating aspect of such flows has been the accumulation of international debt, which has reduced the economic policy options facing their governments substantially. There are two broad phases in the experience with financial flows to developing countries during these years: that prior to the oil shocks when developing country access to international liquidity was limited to resources available through the development aid network, consisting of bilateral and multilateral donors; and that after the shocks, when private financial flows came to play an increasingly important role in these flows.

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