Law Commons^™

The Recent Shift In United States Policies Toward The International Monetary Fund And The World Bank, Polly R. Allen

Vanderbilt Journal of Transnational Law

Today's world economy is characterized by recession, reduced growth in international trade, high oil prices, and high interest rates. Although industrial countries face these problems and the problems often originate in the industrial countries, the developing countries that are not major oil exporters are encountering particularly serious difficulties. The external pressures on these developing countries, combined with their problems of structure and policy, are causing severely reduced rates of growth, higher rates of inflation, increasing problems with balances of payments, and growing foreign debt. Because many of these difficulties arise outside these countries' economies, and because the solutions often require …