Avoiding the elephant traps: a commentary on the International Finance Facility

Paul Mosley
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Paul Mosley: University of Sheffield, Sheffield, UK, Postal: University of Sheffield, Sheffield, UK

Journal of International Development, 2004, vol. 16, issue 6, 879-886

Abstract: This commentary welcomes the ambitious vision underlying the IFF and suggests ways of avoiding four 'elephant traps' to which it is vulnerable; neglect of the poor in middle-income countries, absorptive capacity, fungibility and knock-on effects on interest rates. Absorptive capacity would appear the biggest of these hazards, but to some extent it can be got round, and is being, through imaginative use of 'new conditionality.' Copyright © 2004 John Wiley & Sons, Ltd.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:wly:jintdv:v:16:y:2004:i:6:p:879-886

DOI: 10.1002/jid.1132

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