By Ishrat Husain, John Underwood
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Extra resources for African External Finance in the 1990s (World Bank Symposium)
Prospects for Bilateral Concessional Assistance Richard Carey 51 Comment, Stephen Denning 56 5. External Development Financing for Sub-Saharan Africa: Multilateral Concessional Assistance Kathryn Larrecq 57 Comment, Robert Ayres 65 6. The Role of the IMF Paul Acquah, Michael Edo 67 Comment, Robert Armstrong 71 Page vi 7. The Bretton Woods Agencies and Sub-Saharan Africa: Facing the Tough Questions Richard Feinberg 73 Comment, Joshua Greene 84 8. The Developmental Effectiveness of Aid to Africa Anthony Killick 86 Comment, E.
Export credit agencies, often under pressure to support domestic manufacturers, ignored these problems and suffered the financial losses. New export credits, which disappeared almost completely in the 1980s, now show some signs of life. They could emerge as a useful and important form of financing provided the problems that have plagued their activities can be overcome. More flexible pricing mechanisms, cooperation with multilateral development banks, and developing country reforms will help. Even so, the net annual flows to Sub-Saharan Africa from such credits are unlikely to exceed $1 billion a year over the next decade.
The latest edition is available free of charge from the Publications Sales Unit at the address in the copyright notice or from Publications, World Bank, 66, avenue d'Iéna, 75116 Paris, France. Library of Congress Cataloging-in-Publication Data African external finance in the 1990s / edited by Ishrat Husain, John Underwood. - (A World Bank symposium) Includes bibliographical references. 3. II. Series. 3'435'096c20 CIP Page iii FOREWORD Most African governments and donors now broadly agree that achieving sustained economic growth depends not only on continuing economic and financial policy reforms but also on a wide array of other action needed to deal with long-term development problems.
African External Finance in the 1990s (World Bank Symposium) by Ishrat Husain, John Underwood