Losers pay reparations, or how the Third World lost the lending war

Weeks, John

Abstract

In the late 1970s, the economies of Latin America and Africa entered into an economic depression worse than that of the 1930s, plunging the populations of these countries to levels of poverty and unemployment of a decade before. A disturbing aspect of this profound economic and social crisis is that most of the concern of the international community has focused on what in human terms is a minor side effect of this catastrophic depression—the inability of governments to service their foreign debts. In any rational world, the financial side of the crisis would be the least of our worries,...

Citation

Weeks, J. (1989). Losers pay reparations, or how the Third World lost the lending war. In J. Weeks (Ed.), Debt Disaster? Banks, government and Multilaterals Confront the Crisis. New York University Press. https://doi.org/10.18574/9780814784907-008

• Publication Date: Jan 1, 1989
• Deposit Date: Feb 19, 2009
• Peer Reviewed: Peer Reviewed
• Book Title: Debt Disaster? Banks, government and Multilaterals Confront the Crisis
• ISBN: 9780814792339
• DOI: https://doi.org/10.18574/9780814784907-008
• Publisher URL: http://www.jstor.org/stable/j.ctt9qg11q.11