Lending to LDC Governments

Anthony Angelini, Maximo Eng and Francis A. Lees

Chapter 3 in International Lending, Risk and the Euromarkets, 1979, pp 74-119 from Palgrave Macmillan

Abstract: 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.

Keywords: Bank Lender; Grace Period; Official Development Assistance; Loan Term; Loan Spread (search for similar items in EconPapers)
Date: 1979
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-03807-7_3

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DOI: 10.1007/978-1-349-03807-7_3

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