NOTES 61 machines and equipment, but Individual units, spare parts, semi-manufactured goods and synthetic raw materials, and at prices dictated by those same monopolies, who thus succeed in tying up the economies of the developing countries still more closely with their own and securing themselves profitable marketing outlets. International financial organizations constitute an instrument for penetrating Asian, African and Latin American countries, making it easy for the multi-monopolies. It is by no chance that new organizations are being established and the scale of their operations is increasing. For example, in 1962 credits and loans issued by all international financial organizations totalled $ 194 million, and in 1969, $ 850 million. In the 1971-72 fiscal year, the leading group of financial organizations, the International Bank for Reconstruction and Development and the International Development Association, made financial commitments valued at $ 1966 million and $ 1000 million respectively. The activity of international financial organizations is one of the most charactersitic manifestations of collective colonialism. The growing imperialist expansion through these organizations is based on utilizing the objective interests of developing countrie^ in external sources for financing their national economies. At the same time Asian, African and Latin American countries are increasingly realizing that the "aid" through international associations of Western countries serves first and foremost the interest of transnational monopolies. G V RAO