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Third World Debt: Toward a More Balanced Adjustment*

Published online by Cambridge University Press:  02 January 2018

Richard E. Feinberg
Richard E. Feinberg*
Affiliation:
Overseas Development Council
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Extract

The Third World Debt Crisis continues to burden the US economy, our foreign policy, the international financial system, and the future of many developing countries. The cancerous debt has not terminated the afflicted parties, but it is damaging many US interests. The debt disease eats at the foundations of our banking system, shrinks our export markets, and irritates our foreign relations. For the developing nations, this persistent illness deepens poverty, consumes scarce national savings, undermines adjustment efforts, and threatens eventually to destabilize emerging democracies.

Type
Research Article
Information
Journal of Interamerican Studies and World Affairs , Volume 29 , Issue 1 , Spring 1987 , pp. 47 - 56
Copyright
Copyright © University of Miami 1987

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Footnotes

*

This article was originally delivered as testimony before the Subcommittee on International Debt, Committee on Finance, US Senate, 9 March 1987.

References

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