development. However, recent trends in official development financing offer some grounds for optimism, although much more needs to be done. External debt problems of many developing countries, especially the least developed countries seem likely to continue to constrain their prospects for development.The final part on systemic issues highlights new concerns and the modest progress in ensuring that the international monetary and financial system better serves economic growth and development throughout the world, especially in the developing countries.

About the Editors
José Antonio Ocampo is Under-Secretary-General for Economic and Social Affairs while Jan Kregel was Chief of the Policy Analysis and Development Branch of the Financing for Development Office in the Department of Economic and Social Affairs (DESA) in the United Nations Secretariat. Stephany Griffith-Jones is Professorial Fellow at the Institute of Development Studies at the University of Sussex, and worked at DESA in 2005.

Contents

Overview
Chapter I: International Private Capital Flows
Chapter II: Official Development Financing
Chapter III: External Debt
Chapter IV: Systemic Issues

March 9, 2007.