Abstract
After reaching proportions described as ‘intolerable’ at the beginning of the decade (US $634 billion in 1980), the total debt of developing countries had almost doubled six years later (US $1100 billion in 1986).1 Over the same period, solutions were confidently put forward by international lending organisations which claimed that their proposals would resolve the problems of the growing indebtedness and remedy the lagging economic performance of the countries of Africa and Latin America. The results can only be described as disappointing. What implications do these solutions have?
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
Notes
International Monetary Fund, Annual Report, 1987, p. 30.
John Loxley, ‘Alternative Approaches to Stabilisation in Africa’, in Gerald K. Helleiner (ed.), Africa and the International Monetary Fund (IMF, 1986) pp. 117–47.
A.C. Cornia, R. Jolly and F. Stewart (eds), Adjustment with a Human Face: Protecting the Vulnerable and Promoting Economic Growth (Oxford University Press, 1987) (2 volumes).
Peter Körner, Gero Maass, Thomas Siebold and Rainer Tetzland, The I.M.F. and the Debt Crisis. A Guide to the Third World’s Dilemma (Zed Books, 1986).
Marko Milivojevic, The Debt Restructuring Process (Pinter Press, 1985).
John Loxley, Debt and Disorder. External Financing for Development (Westview Press, Boulder and London, and North-South Institute, 1986).
Cheryl Payer, The Debt Trap. The IMF and the Third World (New York: Monthly Review Press, 1974) and The World Bank. A Critical Analysis (New York: Monthly Review Press, 1982).
Marie-France L’Hériteau, Le Fonds monétaire international et les pays du Tiers-Monde (Paris: IEDES and Presses Universitaires de France, 1986).
Jill Torrie (ed.), Banking on Poverty. The Global Impact of the IMF and the World Bank (Toronto: Between the Lines Press, 1983).
Kjell I. Havnevik, The IMF and the World Bank in Africa. Conditionality, Impact and Alternatives (Uppsala: Scandinavian Institute of African Studies, 1987).
Editor information
Editors and Affiliations
Copyright information
© 1989 Professor Bonnie Campbell
About this chapter
Cite this chapter
Campbell, B.K. (1989). Introduction. In: Campbell, B.K. (eds) Political Dimensions of the International Debt Crisis. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-10507-6_1
Download citation
DOI: https://doi.org/10.1007/978-1-349-10507-6_1
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-10509-0
Online ISBN: 978-1-349-10507-6
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)