ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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New International Development Finance Options

New International Development Finance Options

Official Development Assistance to poor countries has declined in the past two decades. What are the possibilities of a revival, and in what form?

In recent years, after the 1990s’ aid cutbacks following the end of the cold war, most rich countries have further cutbacks on their overseas development assistance as they pursue policies of fiscal consolidation – which even the International Monetary Fund (IMF) now acknowledges as having exacerbated the global economic slowdown.

Those concerned about the long unfulfilled development assistance promises have instead turned their attention back to additional international sources of finance to meet development financing needs proposed following the Monterrey Financing for Development conference in early 2002, soon after the 9/11 turning point half a year earlier.

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