Private Foreign Investment and Welfare in LDCs
The magnitude of the debt crisis facing many LDCs needs almost no comment. Several countries in Latin America and Africa face severe problem of adjustment as a result of the inability to repay their debt. Although the debt problem in these continents are different in both size and nature, the long-run solution to LDC indebtedness can only lie in increased and accelerated development. This is not to deny the important potential role of relief in its various forms (such as food aid), but only to point out the short-run nature of such programmes.
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