BRICs’ Philosophies for Development Financing and their Implications for LICs

Author/Editor: Yongzheng Yang ; Nkunde Mwase
Publication Date: March 01, 2012
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: Flows of development financing from the BRICs (Brazil, Russia, India, and China) to low income countries (LICs) have surged in recent years. Unlike aid from traditional donors, BRICs (excluding Russia) view their financing as primarily based on the principles of South-South cooperation, focusing on mutual benefits without attachment of policy conditionality. This paper provides an overview of the philosophies and modalities of BRIC financing and examines their implications for LIC economies and future LIC-BRIC engagement.
Series: Working Paper No. 12/74
Subject(s): Conditionality | Low-income developing countries

Author's Keyword(s): Aid | BRICs | Brazil | India | China | Russia | Institutions | Debt | LICs
Publication Date: March 01, 2012
ISBN/ISSN: 9781475502268/1018-5941 Format: Paper
Stock No: WPIEA2012074 Pages: 25
US$18.00 (Academic Rate:
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