Uncertainty of development programmes due to short-term loans
The lack of symmetry between the long-term requirements of development and the short- to medium-term nature of commercial bank external financing places clear obstacles in the way of broad-based socio-economic development. Policy makers can confront the problem in a variety of ways, but in order to illustrate the gravity of the matter for a country that is heavily indebted to commercial banks, policy options can be simplified and reduced basically to two: (a) to focus development strategies on activities with high short-term private commercial rates of return and wait for social development to 'trickle down' to the population; or (b) to seek balanced socio-economic development today and hope that banks will refinance their short maturities.
The Encyclopedia of World Problems and Human Potential is a collaboration between UIA and Mankind 2000, started in 1972. It is the result of an ambitious effort to collect and present information on the problems with which humanity is confronted, as well as the challenges such problems pose to concept formation, values and development strategies. Problems included are those identified in international periodicals but especially in the documents of some 60,000 international non-profit organizations, profiled in the Yearbook of International Organizations.
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