Management of the Third-World Debt
Among pressing problems of the developing countries in the contemporary world, indebtedness undoubtedly occupies the first place. The phenomenon of Third-World debt should be tackled in a broader context of interdependence of the world economy, especially its North — South disequilibrium. In many respects the debt problems of the Third World are financial reflections of more deeply rooted inconsistencies of the development process, which are generating imbalances on an even larger scale and deepening the gap between North and South. This is the reason why the debt problem in developing countries cannot be tackled only as a financial phenomenon, which is the present practice of IMF, World Bank and private banks in developed countries.
KeywordsGross Domestic Product Commercial Bank Debt Crisis Private Bank External Debt
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