Official Credits to Developing Countries Implicit Transfers to the Banks

The stock maiket expects virtually all additional resources provided to debtor countries to be used for debt service to commercial banks. The stock market capitalization of banks increased about $6 billion at the time of the 1983 U.S. proposal to increase its quota to the IMF by $8.5 billion, and by a low estimate of $22.4 billion at the time details of the Brady Plan were recorded. The Policy, Rearch. and Extena Affaiz Complex distnbute PRE Working Papen todisseminatethe frndinpgf wo k inprogea and to rncounp the exdiange of idea anong Bank staff and ae other, intrested in devloprnent issue. These papa carry the namer of the authos rflect only their views, and should be used and cited accordingly. The findings, interpmuation, and conclusions are the author ' own. They ahould not be arnibuted to the World Bank, its Board of Dircts, iu management, or any of iu manber countries. Pu bl ic Di sc lo su re A ut ho riz ed Pu bl ic Di sc lo su re A ut ho riz ed Pu bl ic Di sc lo su re A ut ho riz ed Pu bl ic Di sc lo su re A ut ho riz e