Since 1981 Latin America has been in the midst of a protracted external debt crisis due, among other reasons, to emergency borrowing at record-high real interest rates and the decline in the region's export proceeds. Until now, most literature on the subject originated in industrial lender countries, whose primary concern is the impact of the debt
Table of Contents
Preface -- Introduction -- Global and Regional Issues -- External Debt of Developing Countries in Late 1983 -- The World Crisis and the Outlook for Latin America -- The International Scene and the Latin American External Debt -- External Debt Problems of Latin America -- Coping with the Creeping Crisis of Debt -- Latin American Debt: Act Two -- Capital Market Financing to Developing Countries -- The World Monetary System, the International Business Cycle, and the External Debt Crisis -- Case Studies -- Argentina's Foreign Debt: Its Origin and Consequences -- Rescheduling Brazil's Foreign Debt: Recent Developments and Prospects -- The Mexican External Debt: The Last Decade -- The Renegotiation of Venezuela's Foreign Debt During 1982 and 1983 -- The External Debt, Financial Liberalization, and Crisis in Chile -- Peru and Its Private Bankers: Scenes from an Unhappy Marriage -- The Role of External Debt Problems in Central America -- Where Do We Go from Here?
Miguel S. Wionczek is a senior fellow and the head of the long-term energy research program at El Colegio de Mexico. He is coeditor of Energy in the Transition from Rural Subsistence (with Gerald Foley and Ariane van Buren; Westview, 1982) and Mexico's Energy Resources: Toward a Policy of Diversification (with Ragaei El Mallakh; Westview, 1985). Luciano Tomassini is director of the Program for Joint Studies on Latin American International Relations (RIAL) in Santiago, Chile.