| Abstract: | The international debt crisis is viewed here as only a symptom—its underlying causes have resulted from a crisis in management among the major actors in the development process, namely commercial banks, recipient countries and development assistance agencies. The cumulative effect has been a lack of accountability that puts the development objectives themselves into jeopardy. This article proposes that all actors should write off their debt for failed projects, that the development assistance system be redesigned, and that a strategy be developed to help countries design and manage development programmes appropriate to their unique circumstances. |
