The Bretton Woods Project is about to publish a report examining the role of the World Bank and IMF in promoting private investment in developing countries, and the true costs and benefits of international financial flows. Written by former Foreign Office economist and now NGO analyst David Woodward, the report, Drowning by Numbers, outlines:
- the private finance paradigm pushed by the World Bank and IMF;
- the financial costs of different types of private capital flows;
- the policy implications of private flows;
- how the costs of Bank/Fund loans could be reduced;
- trade-offs between debt relief and aid, and alternative sources for aid and debt funding.
The Bretton Woods Project hopes this report will contribute to an informed debate amongst NGOs and policymakers on the appropriate roles for international private and official finance.
Drowning by Numbers is available (single copies free) from the Project office.