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The International Debt Problem: Prospects and Solutions

In: Economic Development and World Debt

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  • Stephany Griffith-Jones

Abstract

Since the eruption of widespread debt crises in mid-1982, a large number of actions have been taken — by governments (of industrial countries as well as major developing country borrowers), by international financial institutions (such as the IMF) and by private banks — to reschedule debts and to seek adjustment by debtor economies; this adjustment of debtor economies was largely geared to assure that within the current international environment, the debtor countries can continue servicing their (usually rescheduled) debts. As Enrique Inglesias, the Chairman of the Cartagena Group, pointed out clearly:2 ‘In the majority of debtor countries, the debt problem has been administered, but not solved’.

Suggested Citation

  • Stephany Griffith-Jones, 1989. "The International Debt Problem: Prospects and Solutions," Palgrave Macmillan Books, in: H. W. Singer & Soumitra Sharma (ed.), Economic Development and World Debt, chapter 1, pages 3-21, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-20044-3_1
    DOI: 10.1007/978-1-349-20044-3_1
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