The External Debt-Servicing Capacity of Asian Developing Countries

Jungsoo Lee

Asian Development Review (ADR), 1983, vol. 01, issue 02, 66-82

Abstract: During the past ten years, the external debts of the developing countries have increased at an unprecedented rate. According to estimates of the Organisation for Economic Co-operation and Development (OECD), the total long-term debt (disbursed) of 158 developing countries increased at an annual rate of 19.3 per cent between 1972 and 1982, reaching $626 billion at the end of 1982. The World Bank has estimated that the external debt of 98 developing countries increased at about the same rate over the period, totalling $529 billion at the end of 1982. A notable feature of the change in the external debt situation of the developing countries is that their debt-service payments have increased at a much faster rate than their debt outstanding. This is because of the rapid growth in their borrowings from foreign commercial banks and rising international interest rates…

Date: 1983
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DOI: 10.1142/S0116110583000123

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