Since 1981 Latin America has been in the midst of a protracted external debt crisis due, among other reasons, to emergency borrowing at record-high real interest rates and the decline in the region's export proceeds. Until now, most literature on the subject originated in industrial lender countries, whose primary concern is the impact of the debt
Since 1981 Latin America has been in the midst of a protracted external debt crisis due, among other reasons, to emergency borrowing at record-high real interest rates and the decline in the region's export proceeds. Until now, most literature on the subject originated in industrial lender countries, whose primary concern is the impact of the debt
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