Liberal Economic Strategy for Debt Crisis Management: The Case of Turkey
One of the major economic problems of 1980s is the external debt of LDCs. This problem has reached a level which is menacing the international economic and financial systems. The onerous burden of debt-servicing is growing very rapidly. The total disbursed debt of LDCs rose from $86.6bn in 1970 to $446bn in 1980. It was estimated that by the end of 1986 the total external debt of LDCs had climbed to about $1035bn. This growing amount of the external debt burden of the Third World constitutes a potential major world crisis for the present international economic order.
KeywordsMonetary Policy Debt Crisis External Debt Service Payment International Financial Market
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