BRICs’ Philosophies for Development Financing and their Implications for LICs
Electronic Access:
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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. 2012/074
Subject:
Debt relief Debt sustainability Development assistance Expenditure External debt Foreign aid Infrastructure National accounts Poverty Poverty reduction Public investment and public-private partnerships (PPP)
English
Publication Date:
March 1, 2012
ISBN/ISSN:
9781475502268/1018-5941
Stock No:
WPIEA2012074
Pages:
25
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