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Towards a New Bretton Woods

Challenges for the World Financial and Trading System: Selected Backgound Papers Prepared for a Commonwealth Study Group, Volume I and II

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Multilateral Aid to Developing Countries

Our subject is multilateral ODA (henceforth MODA for short) and its related institutions. There is a general convention of how to define $#x201C;multilateral” as distinct from “bilateral” ODA and we will follow the generally accepted dividing line. However, in putting forward thoughts about developing and improving MODA it would be counter-productive not to realise the narrow basis and somewhat arbitrary nature of the prevailing definition - otherwise we may bar ourselves from progress in important directions, particularly in the “grey areas” between bilateral and multilateral ODA, as well as that between development finance and balance of payments finance.

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