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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Recovery, Survival and the International Monetary System: Notes Towards Initial Reforms

The external deficits of the developing countries have reached record levels. Of those that are net importers of oil, half now face current account deficits of 12 per cent of gross domestic product or more - about three times their level of a decade ago. Deficits of this magnitude clearly cannot be sustained in terms of future debt service capacity.


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