Debt Reduction in Exchange for Arms Conversion: The Case for Linking Conversion, Development and Debt Reduction
The disengagement of the United States and the former Soviet Union from the Cold War brings with it the prospect of deeper reductions in world military spending. Clearly this is a welcome opportunity for these nations to end the nuclear and conventional arms races. Moreover, reducing military spending could free financial resources for these countries to address their respective budget deficits and many pressing domestic needs.
KeywordsInternational Monetary Fund Public Investment Debt Service Military Expenditure Military Spending
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