In the past few years, the role of international organizations involved in supplying developing countries with capital has changed - not only have they increased their volume of lending, but they have also become catalytic agents stimulating continuing private bank lending to less developed...

A number of highly indebted developing countries have experienced severe foreign exchange shortages for a couple of years. They could not simply roll over old debt any more by taking up new loans. Since export revenues could not be raised sufficiently, quite a few countries resorted to a...