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Volume :17 Issue : 4 1989      Add To Cart                                                                    Download

Developing Countries and the External Debt Trap

Auther : Said S. Martan

One objective of this paper is to investigate the principal causes of the debt problems of developing countries, and to outline the economic effects on the debtor nations. Over the last two decades the external debt of developing nations has risen to more than a trillion US  dollars. At the same time, the net transfer of resources from developing to developed countries reached 86 billion dollars during the period 1982 – 1987, which was contrary to the flow of resources during preceding decades. Consequently, the levels of investment, consumption and growth performance have dropped sharply in the debtor countries, and their standards of living have deteriorated. The paper evaluates suggested approaches and strategies to solve this problem, and provides some recommendations for a course of action. These include several internal and collective adjustments in the debtor countries, as well as some important issues to be addressed in the negotiations between the concerned parties.

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