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

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Politics- Trouble in Store

backtracking in regard to international economic co-operation during the last few years is by now abundantly clear", observes I G Patel, Governor of the Reserve Bank in the course of his recent Tun Ismail Ali Lecture to the Association of Banks in Malaysia. Official development assistance (ODA) has been declining over the years and the gap between the UN target of 0.70 per cent of GNP and actual achievement has been widening. The proportion of OECD's bilateral ODA going to low income countries has declined from 40 per cent in 1965 to about one-fourth in 1979. OPEC's ODA has also become increasingly more selective and less generous than before. Increasing protectionism against exports of manufactures of the underdeveloped countries has become all-to-real.

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