Previous chapters have dealt with the history of the debt crisis as it has affected the various participants. This chapter covers wider policy issues. We start by considering the interests of the industrialised countries generally and in particular those of the United States. The issues facing international organisations like the IMF and IBRD come next. Then we look at issues facing the borrowing countries and the banks. Finally, we consider the proposals which have been put forward for ‘global solutions’ to this problem.
KeywordsInterest Rate OECD Country Commercial Bank Debt Crisis Wide Issue
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Notes and References
- 2.See, for example, W. R. Cline, ‘International Debt and the stability of the world economy’, Policy Analyses in International Economics No. 4, Institute for International Economics (Washington, DC), September 1983.Google Scholar
- W. R. Cline, ‘Current prospects for International debt’, Chapter 8 of International Debt; Systemic Risk and Policy Response, Institute for International Economics (Washington, DC), July 1984.Google Scholar
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- H. Terrell, ‘Bank lending to developing countries’, Federal Reserve Bulletin Vol. 70 No. 10 (Washington, DC), October 1984.Google Scholar
- 4.See ‘Country Creditworthiness — Cash flow and liquidity’, National Westminster Bank International Supplement, 1 November 1983, and Irving S. Friedman and Mahesh K. Kotecha, ‘Country Risk Evaluation Techniques and Private Capital Flows’, paper prepared for UNCTAD, Geneva, 13 July 1984 for later publication by UNCTAD.Google Scholar