SMBs

A Review Of The Trade And Poverty Content In PRSPs And Loan-Related Documents

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Executive Summary

It is an old adage that beggars cannot be choosers, but creditors have powers over debtors too. This was seen most starkly in North-South relations in the two decades which succeeded the brief era of 'Commodity power' (1973-79) when structural adjustment policies imposed on the weaker developing countries a 'Post-Washington Consensus'. This included among its ingredients trade liberalisation and market openness without any of the preferential asymmetry to which poor developing debtor countries, especially in Africa, would have been entitled to before or since.

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