Development Financing and Changes in Circumstances

The 1980s saw a debt crisis among developing countries that indicated a deeper, dangerous fault in the foundations of financial mechanisms. Rocha argues that contractually provided adaptation mechanisms can help avoid the disruption of medium- and long-term financing transactions; he also challenges the current practice of hazardous and resource-consuming ad hoc debt rescheduling.

Bolivar Moura Rocha heads the unit responsible for the enforcement of competition law and policy in the Brazilian Finance Ministry.