One year ago, Abdul Kadir Qadi, director of financial affairs to the state of Qatar, telexed 40 international banks inviting them to tender for the management of a $300 million loan, the state's first. The telexes did not mention any individual borrower or project, but they began what was to be one of the most toughly contested fights ever for a Eurocredit mandate. By Nigel Bance

An interview with the deputy president of the Hungarian National Bank.

By Francis Ghilès

Argentina is no longer a name to make international bankers shudder.

By Nicholas Faith

A delegation of senior British journalists was recently invited to tour China. Patrick Sergeant was there and here he explains why he believes China is the world's next big market.

By Padraic Fallon

Almost overnight the fears that waves of volatile oil dollars would wreck the world's financial system have receded.

In the November issue of Euromoney, the author gave a bird's-eye view of some of the problems of recycling oil funds to Third World countries – here a compromise solution is proposed.

Borrowing on the Euromarkets to balance their oil payments deficits is not going to be easy for Third World countries because of all those industrialized countries who need the money just as badly and constitute better credit risks. The Witteveen plan is one solution, but will the Arabs continue to put money into schemes in which they have very little say?

Well, then, what are you going to do for the rest of the time?

This year's annual meetings of the International Monetary Fund and World Bank will again concentrate on the long quest for a new monetary order and, since they are being held, for the first time, in the world's poorest continent, they will be concentrating also on aid to developing countries.

What do the Euromoney markets look like from the other side? Here Mr Clements, deputy treasurer of ICI, explains first how the group fits fund raising on the international markets into its financing activities. He goes on to outline the market’s importance to ICI, both now and in the future, and then to talk more specifically about the advantages and disadvantages of the market from the borrower's point of view.