The abrupt unwinding of global imbalances is a major risk for the world economy; it affects countries across the globe, but is particularly harmful to developing countries.

This second volume on global imbalances includes an unorthodox, long-term view on global imbalances, an in-depth discussion about the role of the IMF, and a discussion about the need for reform of the international monetary and financial system. It pays special attention to Africa and East Asia.

A book that analyses how the ballooning foreign debt problem of the United States and the problem of increasing global economic imbalances are related, how these problems should be addressed and by whom.

Contributing authors provide deep insights and practical policy suggestions of what can be done to lessen the vulnerability of developing countries and contribute to a resolution of the US debt and global imbalances problems.

A book that examines the economic constraints to growth and development in sub- Saharan Africa, the international community’s responsibilities, and the development model that would best fit African realities.

Contributing authors include African experts and a wide range of international policymakers and thinkers. They provide insights of great relevance to the development prospects of African and other poor countries.

A book that spells out how the international community can more effectively address the vulnerabilities of low-income countries and why fundamental reforms in the governance of the global financial system are needed.

Contributing authors include officials as well as critical observers. They discuss the crucial issues, provide in-depth analyses and suggest valuable policy proposals.