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Lending to LDC Governments

In: International Lending, Risk and the Euromarkets

Author

Listed:
  • Anthony Angelini
  • Maximo Eng
  • Francis A. Lees

Abstract

International credits secured by LDC governments fulfil a number of important purposes. In some cases, LDC credits permit the borrowing country to acquire high-yielding assets. In other cases, there may be an important build-up of international liquidity. In yet others, LDC borrowing is needed to carry the borrower over an extremely difficult business cycle or domestic inflationary episode. An LDC government may borrow (1) to permit the country to survive a balance-of-payments crisis (2) to make service payments on existing international debt (3) to rebuild external reserves (4) to finance a current-account deficit (5) to purchase high-yielding assets, or (6) to assist in financing economic development — to cite just some of the reasons.

Suggested Citation

  • Anthony Angelini & Maximo Eng & Francis A. Lees, 1979. "Lending to LDC Governments," Palgrave Macmillan Books, in: International Lending, Risk and the Euromarkets, chapter 3, pages 74-119, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-03807-7_3
    DOI: 10.1007/978-1-349-03807-7_3
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