There is a very strong case for substantially stepping up the quantum and improving the quality of development assistance. There are two aspects to this which we would like to stress. One, is the need to make allocation of development assistance to countries equitable. The guiding principles should be the incidence of poverty and the effectiveness of poverty reduction efforts.
Lesson 2: beware of government ownership of banks and remove barriers to foreign ownership The second lesson from the New Zealand experience in the late eighties is that the ownership of banks is an important issue. For us, the issue was in part government ownership of banks and in part foreign ownership of banks.