- Negotiating economic policy with the IMF
- debt to governments - the Paris club
- debt to commercial banks - the London club
- non-bank commercial debt negotiations
- financing adjustment with growth - does the package fit together?
- the 1986-90 initiatives - a break with the past
- winners all - negotiating finance for development.
- (source: Nielsen Book Data)
Negotiations on developing country debt have been largely secret. Drawing on confidential interviews and documents, this book is an analysis of Sub-Saharan Africa's debt negotiations in the 1980s. Its framework for assessing the major types of talks finds that their negotiating procedures made agreements vunerable to implementation problems, and often to certain failure. In the early 1980s, those powerful enough to change procedure could not see beyond their short-term repayment interests and uncertainty in the international economy, to fulfil their long-term interest in debtor economic recovery. Gradually they acknowledged that existing procedures made exorbitant demands on their staff and undermined their declared objective of "adjustment with growth". Nobody was winning. They changed them, and the facade of efficiency crumbled. Building on their initiatives suggests ways of negotiating external finance for Africa's development in the 1990s. (source: Nielsen Book Data)