BRICs’ Philosophies for Development Financing and their Implications for LICs

March 1, 2012

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Yongzheng Yang, and Nkunde Mwase. BRICs’ Philosophies for Development Financing and their Implications for LICs, (USA: International Monetary Fund, 2012) accessed December 3, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Flows of development financing from the BRICs (Brazil, Russia, India, and China) to low income countries (LICs) have surged in recent years. Unlike aid from traditional donors, BRICs (excluding Russia) view their financing as primarily based on the principles of South-South cooperation, focusing on mutual benefits without attachment of policy conditionality. This paper provides an overview of the philosophies and modalities of BRIC financing and examines their implications for LIC economies and future LIC-BRIC engagement.

Subject: Debt relief, Debt sustainability, Development assistance, Expenditure, External debt, Foreign aid, Infrastructure, National accounts, Poverty, Poverty reduction, Public investment and public-private partnerships (PPP)

Keywords: Africa, Aid, Brazil, BRIC, BRIC assistance, BRIC engagement, BRIC export credits, BRIC financing, Bric financing of infrastructure, BRIC firm, BRICs, China, Debt, Debt sustainability, Development assistance, Financing, Financing flow, Firm, Infrastructure, Institutions, LIC government, LICs, Poverty reduction, Public investment and public-private partnerships (PPP), Russia, SSA LICs, WP

Publication Details

Pages:

25
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2012/074
Stock No:

WPIEA2012074
ISBN:

9781475502268
ISSN:

1018-5941

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