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International Debt Problem The purpose of this rese

The purpose of this research is to examine the impact of the international debt problem on the countries of the South and on the international political and economic relationships between the North and the South. The plan of the research will be to set forth the context in which the crisis of the international debt may be seen to illuminate North-South relations, in particular the impact on Latin America, and then to discuss the causes and responses to the debt problems on one hand, and their patterns and implications in the context of recent developments on the other, with a view toward forecasting possible lines of development in the future.

The international debt crisis of the current period owes much to other kinds of economic crisis of earlier periods. A desire on the part of less developed countries of the South is to duplicate to a significant degree the prosperity of the developed countries of the North, and to do so very much as a group: "The primary bond that links the countries and peoples of the South is their desire to escape from poverty and underdevelopment and secure a better life for their citizens." But contained within that goal in recent history have been myriad traps, for the fact is that in order to finance the development and growth of the dream the countries of the South and indeed throughout the Third World took on massive debt obligations. The effect, particularly during the 1980s, was a widening gap between the prosperity of the developed world and the poverty of the Third World, and countries that had the most debt are currently at most risk.

The massiveness and apparent irreversibility of Third World debt in the current period has been noted by a number of commentators. One view is that the debt crisis in Latin America is no crisis--not because it is not a serious situation but because it is really a chronic disease. "The main cause, the only really important cause of the Latin American economic disas...

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International Debt Problem The purpose of this rese. (1969, December 31). In Retrieved 08:28, February 18, 2019, from