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Montague Yudelman

This paper reviews the increasing private capital flows to less developed countries. The share of developing countries in the foreign direct investment is small, perhaps less than 30 percent of the total. The effects of this decline in the volume of foreign investment and the continued problem of capital flight have been aggravated by the serious fall in commercial bank lending to developing countries as a group and by a decline in official development assistance.

International Monetary Fund. External Relations Dept.

The Thirty-Sixth Annual Meetings of the Boards of Governors of the International Monetary Fund and of the World Bank were held in Washington, DC, from September 29 to October 2, 1981 under the chairmanship of Valentin Arismendi Elgue, Minister of Economy and Finance, Uruguay. The Annual Meetings proper were immediately preceded by a number of ancillary meetings, including those of the Fund’s Interim Committee, the Joint Bank/Fund Development Committee, the Group of Ten Ministers from industrial countries, and the Group of Twenty-Four Ministers representing developing countries. World Bank President A. W. Clausen Meetings Chairman V. Arismendi Elgue

International Monetary Fund. External Relations Dept.

This paper reviews the influence of the tropical climate on economic development. The paper highlights that the effect of climate is clearly not the only ruling constraint on economic development. It is claimed that climatic factors severely hamper development through their impact on both human beings and their agriculture. Human economic activity is directly and adversely affected through the widespread extent and impact of diseases; and tropical agriculture suffers in the quality of its soils, its rainfall, and its multiplicity of pests and diseases.

International Monetary Fund. External Relations Dept.

This paper analyzes the issue of migrant workers in Europe. The paper highlights that the number of migrant workers currently in the major industrialized countries of Western Europe is not accurately known. The actual annual flow of migration into Western Europe has been g