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Avoiding the elephant traps: a commentary on the International Finance Facility

✍ Scribed by Paul Mosley

Publisher
John Wiley and Sons
Year
2004
Tongue
English
Weight
94 KB
Volume
16
Category
Article
ISSN
0954-1748

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✦ Synopsis

Abstract

This commentary welcomes the ambitious vision underlying the IFF and suggests ways of avoiding four ‘elephant traps’ to which it is vulnerable; neglect of the poor in middle‐income countries, absorptive capacity, fungibility and knock‐on effects on interest rates. Absorptive capacity would appear the biggest of these hazards, but to some extent it can be got round, and is being, through imaginative use of ‘new conditionality.’ Copyright © 2004 John Wiley & Sons, Ltd.

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