The Bretton Woods Institutions

A Commonwealth Perspective

image of The Bretton Woods Institutions

This paper was prepared as a background document on the subject of the Bretton Woods Institutions for the Commonwealth Finance Ministers’ Meeting, 2728 September 1994, and contained a number of proposals which enriched Ministers’ discussion.



The BWIS and Economic Development

The BWIs impinge directly upon the development of the countries to which they lend in two principal ways: through the productivity of the financial (and technical) assistance they provide, and through their influence on the policy choices of the governments of those countries. Indirectly, as shown in Part II, they also impinge through such influence as they have on policies within industrial countries, and on the workings of the international trading and financial 'system', but we confine ourselves here to their direct effects.


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