Beyond Lending How Multilateral Banks Can Help Developing Countries Manage Volatility

As the drafts of this book were coming together in early 2008, Guillermo Perry argued that developing countries remained highly vulnerable to external risks such as commodity price declines, capital flow reversals, and natural disasters. The economic crisis that has since ensued could not have proved his analysis more true: rather than fall into complacency as the short-term demand for traditional loans increases, multilateral development banks (MDBs) should move beyond lending to provide innovative risk-management tools for developing countries to manage volatility and create long-term stability. Book jacket.

Guillermo Perry is a non-resident fellow at the Center for Global Development and an associate researcher at Fedesarrollo. He was the chief economist for Latin America and Caribbean at the World Bank from 1996 to 2007. He previously served his native country, Columbia, in various capacities, including as minister of finance and public credit (1994-1996), minister of mining and energy (1986-1988), and director of national taxes (1974-1976).