ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Cricket-Craze for Crassness

ance to less developed countries experiencing unexpected export shortfalls. The UNCTAD has been pressing for some such arrangement and by a unanimous resolution had (in 1964) requested the Bank to take some action in the matter. Many of the industrialised countries do not much favour the idea (although they voted for the UNCTAD resolution) and, after much discussion and repeated requests from the UNCTAD, the Bank has finally agreed that "the problem would be kept under review"! The World Bank's Annual Report also contains a summary of a major study on debt. Concerned about the mounting debt burden of the developing countries, McNamara had last year committed the Bank's staff to a "thorough study of all aspects of the growing indebtedness of developing countries". The study, if it can be judged on the basis of the brief summary contained in the Bank's Annual Report, provides a wealth of information on debt outstanding, debt service payments, grant elements, etc, and is, therefore to be heartily welcomed. However, those who are looking for fresh insights into the problem must fee] sorely disappointed.

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