Journal Issue


International Monetary Fund. External Relations Dept.
Published Date:
June 1985
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A better settlement policy

Andrew Hamer’s “Urbanization patterns in the Third World” (March 1985) caused me to speculate upon the disastrous plight of literally millions of peasants within the Sahel, particularly in Ethiopia and the southern Sudan.

Whereas food and emergency delivery systems are in operation, the future does look particularly bleak and perhaps the time has now come to consider an effective settlement policy—-not only better to undertake specific delivery programs but, as a longer-term initiative, to provide a future for these people if the droughts continue into a real regime of climatic change.

It is not beyond our powers to suggest a settlement program to include central villages and related new towns and infrastructures. We have the problem, we have the technology, but have we the resilience and real concern to work to specific objectives?

Gwyn Rowley

University of Sheffield

The Fund’s role

With regard to the Killick-Nowzad exchange (September 1984) and the debate over the role of the Fund, it is indeed true that the IMF’s main purpose is to help countries overcome short-run balance of payments difficulties, while the needs of developing countries are undoubtedly medium and long term. While the IMF is not a development finance institution, further cooperation with the World Bank and other financial institutions would facilitate smoother adjustments. One of the major causes of developing country difficulties in recent years has been the “inflation-phobia” of developed countries. Their protectionist and restrictive monetary policies have accentuated problems facing the developing countries. The contracting markets for their exports in developed countries have resulted in falling export earnings. The high rates of interest have added to the debt burden. Obviously someone should have made the developed countries take note of the adverse international effects of their policies.

Autar S. Dhesi

Guru Nanak Dev University


World Economic Outlook; April 1985

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