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International Monetary Fund. External Relations Dept.
Programme de travail du FMI ; recommandations du FMI sur le taux de change ; accords commerciaux asiatiques ; Asie centrale ; coopération économique ; le Cameroun après l'allègement de la dette ; spread des banques autrichiennes ; conférence sur les indicateurs de solidité financière ; Caruana : évolution des responsabilités en matière de mondialisation financière.
International Monetary Fund. External Relations Dept.
IMF work agenda; IMF exchange rate advice; Asia's trade pacts; Central Asia: economic cooperation; Cameroon after debt relief; spread of Austrian banks; conference on financial soundness indicators; Caruana on shifting roles in financial globalization.
International Monetary Fund. External Relations Dept.
Programa de trabajo del FMI; asesoramiento del FMI sobre tipos de cambio; pactos comerciales en Asia; cooperación económica en Asia central; Camerún tras el alivio de la deuda; expansión de los bancos de Austria; conferencia sobre indicadores de solidez financiera; Caruana aborda los cambios de funciones que trae aparejados la globalización financiera.
Mrs. Claire Liuksila

Abstract

This booklet is a collection of papers presented at a seminar on policies for growth in Africa, held in Paris in February 1995 and sponsored by the Ministry of Finance of Japan. The seminar focused on four broad themes: how to enable the private sector to play a lead role in the growth process in Africa; how to boost domestic savings and help the financial sector to contribute to the mobilization and efficient us of resources; how to facilitate foreign aid and make it more effective; and, what are the essential elements of sound debt management practices?

Edward V.K. Jaycox

Abstract

I would like to thank the organizers and the Government of Japan for holding this follow-up meeting to the seminar in Tokyo last year. I think a great many useful things were said there, and they are more relevant today than ever.

Peter Harrold

Abstract

There are several reasons why the “Budgetary Approach to Adjustment Support” as outlined in this seminar by Mr. Ireton makes sense.

Michael G. Kuhn

Abstract

The debt strategy has been successful in resolving the global debt crisis. Almost all of the major debtor countries have put their external debt problems behind them. They have regained access to normal international capital flows, and have returned to healthy rates of economic growth.

Théophile N’Doli Ahoua

Abstract

Most of the world’s developing countries have used external indebtedness to finance their development. Today, this indebtedness is the main obstacle to the economic growth of these countries as a whole, and of sub-Saharan Africa, in particular.

R.P. Brigish

Abstract

There is a tendency in today’s world of robust, albeit at times skittish, capital flows to developing countries to say that the developing country debt crisis is over, and that, consequently, the challenge of external debt management is not as urgent as it was just a few years back. There are at least three reasons why this is not quite right. First, debt distress remains a central economic reality for the majority of low-income countries. Second, there are new countries, arising out of the former Soviet Union and Yugoslavia, that are embarking on borrowing programs without the necessary infrastructure or regulatory and legal frameworks that permit adequate management of the borrowing process. And, third, there is recidivism; that is, the possibility either that the lessons learned from past practices were inadequately retained, or that the lessons had changed.

Katsuya Mochizuki

Abstract

Africa’s current financial crisis is a tragic legacy of the debt management strategy of the 1980s. Africa became more debt distressed than any other region in the world. The U.N. Secretary General once remarked that this external debt is a “millstone” around the neck of Africa. Africa’s overall economic situation deteriorated as the debt burden worsened in many of the region’s countries, and some are even seen to be in a “debt trap” or a “debt treadmill,” which forces them to obtain new financial resources simply to repay old debts.