New Ventures despite Recession

January 15, 1983 non-oil developing countries have enjoyed hardly any access to commercial bank credit.
Possibly there is great substance in the view that the present US keenness on establishing an institution outside of the IMF framework is meant to provide for an arrangement which the US along with the other members of the Club of Rich can dominate even more, keep the developing countries altogether outside of its decision-making and/or entrust the institution altogether to the com mercial banks (naturally the giants among them, which are mostly based in the US).