IMF Working Papers

BRICs’ Philosophies for Development Financing and their Implications for LICs

ByYongzheng Yang, Nkunde Mwase

March 1, 2012

More Formats on IMF eLibrary
Order a Print Copy

Preview Citation

Format: Chicago

Yongzheng Yang, and Nkunde Mwase. "BRICs’ Philosophies for Development Financing and their Implications for LICs", IMF Working Papers 2012, 074 (2012), accessed 12/8/2025
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.

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)

Keywords: Africa, Aid, Brazil, BRIC, BRIC assistance, BRIC engagement, BRIC export credits, BRIC financing, Bric financing of infrastructure, BRIC firm, BRICs, China, Debt, Debt sustainability, Development assistance, financing, financing flow, firm, Infrastructure, Institutions, LIC government, LICs, Poverty reduction, Public investment and public-private partnerships (PPP), Russia, SSA LICs, WP

  • Pages:

    25

  • Volume:

    2012

  • DOI:

    ---

  • Issue:

    074

  • Series:

    Working Paper No. 2012/074

  • Stock No:

    WPIEA2012074

  • ISBN:

    9781475502268

  • ISSN:

    1018-5941

You May Also Be Interested In...

Tourism in the Post-Pandemic World: Economic Challenges and Opportunities for Asia-Pacific and the Western Hemisphere: November 2025

11/3/2025

Development Committee: The Managing Director's Written Statement

10/20/2025

Progress Report to the IMFC on the Activities of the Independent Evaluation Office of the IMF

10/16/2025

Setting Up Fiscal Rules in Lesotho: Kingdom of Lesotho

10/14/2025

Taxes in Lithuania: Benchmarking and Policy Options

10/13/2025