ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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September 18, 1971 as the Netherlands and Libya. The Bank has few illusions about the long-term prospects of aid. A special study of aid problems made by it shows that the external public debt of developing countries now amounts to $ 59 billion. On the bilateral official and multilateral debt of $ 43.4 billion, service payments of $ 19.8 billion fall due to be paid over the years 1970-75; on $ 15.3 billion due to private creditors, service payments due in 1970-75 amount to $ 13 billion. At the same time, the markets for the developing countries' products are not expanding, and the recent inflationary pressures in the advanced countries have helped to worsen the terms of trade for the developing countries. Clearly, there are limits to the financing of development with loans.

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