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Drowning by numbers

The IMF, the World Bank and North-South Financial Flows.

by David Woodward

Bretton Woods Project

Thank you to all those who commented on the report.

Thank you to the C. S. Mott Foundation for their continued support.

David Woodward is a freelance writer and researcher on development issues, working mostly for non-governmental organisations, and is the author of Debt, Adjustment and Poverty in Developing Countries (1992) and Direct Investment and Equity Investment in Developing Countries: the Path to Prosperity or the Road to Ruin? (forthcoming). He previously worked as an economic adviser in the UK Foreign Office and the UK Executive Director’s Office at the IMF and World Bank.

Edited by Angela Wood, Bretton Woods Project.

Cover design by Shaun Askew,

Executive Summary
Chapter 1: The new paradigm of international finance.
Chapter 2: Why governments need finance and the cost of commercial flows.
Chapter 3: The impact of commercial flows on economic policies and development.
Chapter 4: The Volume and Terms of World Bank and IMF Resources
Chapter 5: Debt Relief Versus Aid?
Annex 1

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