1945

International finance, debt and balance-of-payments adjustment

image of International finance, debt and balance-of-payments adjustment

The primary concern of policy makers with regard to the International financial situation differ dramatically from those of a few years ago. At the beginning of the decade some developing countries were able to borrow laTge sums from international commercial banks. There were fears that credit was too easy, but the value of trade was growing strongly. The concern today is that many of those countries are excluded from new borrowing as a legacy of debt crises and the limited prospects for the growth of world trade. Instead, much of the world’s international financial flows are directed towards the largest economy of the world, which used to be a major source of capital outflows.

Related Subject(s): Economic and Social Development
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