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Overriding Jurisdictions in Global Financial Governance, and Long Term Financing for the Poorest Countries

By Roy Culpeper | December 1, 2000

The first section puts the creation and evolution of the governance of the IFIs into historical perspective, examining the causes of a pattern of governance in which small groups such as the G-7 have exercised decisive control over the policy framework and the IFIs. The subsequent section examines the consequences of this pattern of governance for smaller and poorer countries, particularly with regard to the issues of long-term development financing and debt. In a concluding section, the scope for increased attention to the problems of the poorest countries in general, and to longterm development financing in particular, is explored in the context of the emerging governance framework.

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