{
  "title": "Official Financing for Developing Countries",
  "publication": "World Economic and Financial Surveys, August 2, 2001",
  "sourceUrl": "https://www.imf.org/en/publications/world-economic-and-financial-surveys/issues/2016/12/30/official-financing-for-developing-countries-14803",
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  "summary": "This paper reports an updated assessment of movements in official financing for developing countries during 1997–1999. The composition of official financing flows changed too; as a result of the Asian crisis Member states of the Development Assistance Committee (DAC) increased official development f",
  "sections": [
    {
      "heading": "Summary",
      "content": "- This paper reports an updated assessment of movements in official financing for developing countries during 1997–1999.\n- The composition of official financing flows changed during this period, influenced by the Asian crisis.\n- Debt relief is highlighted for its orientation toward poverty reduction and its potential contribution to raising living standards of the poorest."
    },
    {
      "heading": "Key findings on official financing flows and composition",
      "content": "- Member states of the Development Assistance Committee (DAC) increased official development financing from $73 billion in 1996 to $85 billion in 1999.\n- New commitments by export credit agencies—a resource not included in the DAC figures—declined during 1997–1999, reflecting a slowing down in large-scale projects.\n- The decline in export credit agency commitments is attributed to governments affected by the Asian financial crisis suspending or postponing a number of public sector projects."
    },
    {
      "heading": "Analysis of debt relief and poverty reduction",
      "content": "- Debt relief is characterized as an important contribution to international efforts to help raise the living standards of the poorest in the world.\n- The success of debt relief is said to depend crucially on:\n  - the willingness of donor countries to increase resources for development aid, and\n  - linking donor resources to recipient countries’ poverty reduction strategies.\n\n---\n\n\nSource: https://www.imf.org/en/publications/world-economic-and-financial-surveys/issues/2016/12/30/official-financing-for-developing-countries-14803"
    }
  ],
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    "Published: August 2, 2001",
    "Series: World Economic and Financial Surveys",
    "DOI: https://doi.org/10.5089/9781589060388.083",
    "This paper reports an updated assessment of movements in official financing for developing countries during 1997–1999.",
    "The composition of official financing flows changed during this period, influenced by the Asian crisis.",
    "Debt relief is highlighted for its orientation toward poverty reduction and its potential contribution to raising living standards of the poorest.",
    "Member states of the Development Assistance Committee (DAC) increased official development financing from $73 billion in 1996 to $85 billion in 1999.",
    "New commitments by export credit agencies—a resource not included in the DAC figures—declined during 1997–1999, reflecting a slowing down in large-scale projects.",
    "The decline in export credit agency commitments is attributed to governments affected by the Asian financial crisis suspending or postponing a number of public sector projects.",
    "Debt relief is characterized as an important contribution to international efforts to help raise the living standards of the poorest in the world.",
    "The success of debt relief is said to depend crucially on:"
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