Dilip Ratha


Remittances & Migration   Diaspora Bonds   Future-Flow Securitization    Country Risk Rating


What is FF securitization





Future-Flow Securization


Leveraging Remittances for International Capital Market Access, World Bank, November 2005

Recent Advances in Future-Flow Securitization, The Financier. December 2005.

Development Financing during a Crisis: Future-Flow Securitization, Policy Research Working Paper 2582, April 2001.

Financing Development through Future-Flow Securitization, PREMnotes, World Bank, June 2002.

Securitization of Future Flow Receivables: A Useful Tool for Developing Countries, Finance and Development, March 2001



New Paths to Funding. This article in the June 2009 issue of Finance and Development discusses performance-indexed bonds, diaspora bonds, securitization of future remittances and export earnings as possible means for restoring or starting access of poor country borrowers to international capital markets.

Innovative Financing for Development

For more information, and a pdf version of the book, read my blog post. A book launch and panel discussion on innovative financing took place on October 9, 2008, on the sidelines of the World Bank/IMF Annual Meetings. This book argues that poor countries need additional, cross-border capital channeled to the private sector for employment generation, growth, and poverty reduction. For that, innovative financing mechanisms are necessary. The volume brings together various market-based innovative methods of raising development finance including securitization of future flow receivables, diaspora bonds, and the role of shadow sovereign ratings in facilitating access to international capital markets.

Beyond Aid: New Sources and Innovative Mechanisms for Financing Development in Sub-Saharan Africa, January 1, 2008. This paper argues that Sub-Saharan Africa can potentially raise up to $17 billion annually via securitization of future remittances and other future receivables.

Shadow Sovereign Ratings for Unrated Developing Countries, June 2007

(Listen to interview with Stephen Evans, BBC Radio, aired on April 10, 2007)