Interesting report. I was pretty staggered by the opening paragraph which asserts "The crisis affected mainly developed economies". That doesn't square with my experience. Again we see the push for a fiscal stimulus, which I hope Osborne et al take on board.
For our work in developing countries though, I was more interested in "A sharp rise in lending to the world’s poorest countries will leave them with crippling debt payments over the next decade, a few years after many had loans written off, a report has warned." (Guardian Friday 10th October 2014). This report can be found here:
http://jubileedebt.org.uk/wp-content/uploads/2014/10/Lending-boom-research_10.14.pdfOf added interest is the following article which outlines the alternative to borrowing from the World Bank/IMF, to quote:
"This past summer, the BRICS countries—Brazil, Russia, India, China and South Africa—created an alternative to the largely U.S. controlled World Bank and International Monetary Fund (IMF), and the Shanghai Cooperation Organization (SCO) added 1.6 billion people to its rolls.
The BRICS construction of a Contingent Reserve Arrangement will give its member’s emergency access to foreign currency, which might eventually dethrone the dollar as the world’s reserve currency. The creation of a development bank will make it possible to by-pass the IMF for loans, thus avoiding the organization’s onerous austerity requirements."
http://www.internationalpolicydigest.org/2014/10/08/brics-sco-let-thousand-poles-bloom/
