The Latin American Debt

Shanti P Chakravarty

Scottish Journal of Political Economy, 1987, vol. 34, issue 2, 120-44

Abstract: With examples from Chile and Argentina, the conventional assumption that the Latin American debts can be managed by good housekeeping practices supervised by the International Monetary Fund is questioned here. Various indices of the service burden are consi dered. Eventual default could be avoided only by encouraging massive capital inflow while also generating large trade surpluses. Banks are not capable of handling the magnitude of the required sum. Surpluses on the scale entailed for Latin America would disrupt western econom ies, and cause suffering in both debtor and creditor nations. These d ebts should be partially written off with cooperation from internatio nal agencies. Copyright 1987 by Scottish Economic Society.

Date: 1987
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