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Le Sud a déjà payé sa dette extérieure au Nord, mais le Nord refuse de reconnaître ses dettes à l'égard du Sud

Author

Listed:
  • Paulo Nakatani

    (Université fédérale Espirito Santo, Vitoria, Brésil)

  • Rémy Herrera

    (Centre d'Economie de la Sorbonne)

Abstract

This working paper dealing with developing countries' external debt is at the origin of a written statement presented by the Centre Europe Tiers-Monde (CETIM) during the March 2007 4th session of the Human Rights Council of the United Nations Organization in Geneva (item 2: implementation of the General Assembly Resolution 60/251 of 15 March 2006, UN symbol: A/HRC/4/NGO/17). Its message is clear: the South has already repaid its external debt to the North. As a matter of fact, the 145 developing countries and newly emerging market economies taken as a whole have paid, between 1980 and 2006, a cumulative amount of US$ 7673.7 billion in external debt service. During the same period, the amount of that debt increased from US$ 617.8 billion in 1980 to US$ 3150.6 billion in 2006, according to the IMF. Although they have already repaid in capital and interest, more than 12 times the amount due in 1980, these countries still bear the burden of external debt which is more than five times larger than that due at the start of the period

Suggested Citation

  • Paulo Nakatani & Rémy Herrera, 2007. "Le Sud a déjà payé sa dette extérieure au Nord, mais le Nord refuse de reconnaître ses dettes à l'égard du Sud," Documents de travail du Centre d'Economie de la Sorbonne r07014, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    • Handle: RePEc:mse:cesdoc:r07014
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    More about this item

    Keywords

    External debt; South; development;
    All these keywords.

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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