Vanderbilt Journal of Transnational Law

First Page



A consideration of International Lending: The Case of Developing Nations is timely not only because of the forces that are propelling the Third World into a position of increasing strategic and political importance but also as a recognition of the importance of credit to development and of the fact that loans and self-help, rather than massive infusions of outside assistance, are the key to real development. It is not this writer's intention to discuss different forms of credit or the many practical, technical and legal hurdles to mobilizing and delivering loans to the Third World on a fair basis to both creditor and borrower. Instead, this paper will sketch the background of world forces that must be carefully considered if the availability and effective use of credit in less developed countries (LDC's) is to be accomplished.