The International Debt Threat: a Way to Avoid a Crash
International indebtedness is probably the most prssing problem on the world economic horizon. Many developing countries are facing severe difficulties in servicing their foreign debt, which in total has climbed to over US $750 billion, over half of it owed to commercial banks. Already more than 25 countries, with between them bank loans of around US $250 billion, have been forced into reschedulings.
KeywordsEurope Argentina Venezuela
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