- published: 20 Jun 2014
- views: 8193
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Latin American debt crisis
The Latin American debt crisis was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as the "lost decade", when Latin American countries reached a point where their foreign debt exceeded their earning power and they were not able to repay it.
Origins
In the 1960s and 1970s many Latin American countries, notably Brazil, Argentina, and Mexico, borrowed huge sums of money from international creditors for industrialization; especially infrastructure programs. These countries had soaring economies at the time so the creditors were happy to continue to provide loans. Initially, developing countries typically garnered loans through public routes like the World Bank. After 1973, private banks had an influx of funds from oil-rich countries and believed that sovereign debt was a safe investment.
Between 1975 and 1982, Latin American debt to commercial banks increased at a cumulative annual rate of 20.4 percent. This heightened borrowing led Latin America to quadruple its external debt from $75 billion in 1975 to more than $315 billion in 1983, or 50 percent of the region's gross domestic product (GDP). Debt service (interest payments and the repayment of principal) grew even faster, reaching $66 billion in 1982, up from $12 billion in 1975.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Latin_American_debt_crisis
Debt crisis
Debt crisis is the general term for a proliferation of massive public debt relative to tax revenues, especially in reference to Latin American countries during the 1980s, and the United States and the European Union since the mid-2000s. As well as the Chinese debt crises of 2015.
Current and recent debt crises
Europe
European debt crisis
The European debt crisis is a crisis affecting several eurozone countries since the end of 2009. Member states affected by this crisis were unable to repay their government debt or to bailout indebted financial institutions without the assistance of third-parties (namely the International Monetary Fund, European Commission, and the European Central Bank). The causes of the crisis included high-risk lending and borrowing practices, burst real estate bubbles, and hefty deficit spending. As a result, investors have reduced their exposure to European investment products, and the value of the Euro has decreased.
Other European debt crisises
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Debt_crisis
Latin America
Latin America is the group of territories and countries in the Americas where Romance languages are spoken. The term originated in 19th century France to include French-speaking territories in the Americas within the larger group of countries that speak Spanish and Portuguese. It is therefore marginally broader than the term Iberian America or Spanish America, though it excludes French-speaking Quebec. Latin America consists of twenty sovereign states and several territories and dependencies which cover an area that stretches from the southern border of the United States to the southern tip of South America, including the Caribbean. It has an area of approximately 19,197,000 km2 (7,412,000 sq mi), almost 13% of the earth's land surface area.
As of 2015, its population was estimated at more than 626 million and in 2014, Latin America had a combined nominal GDP of 5,573,397 million USD and a GDP PPP of 7,531,585 million USD. The term "Latin America" was first used in 1861 in La revue des races Latines, a magazine "dedicated to the cause of Pan-Latinism".
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Latin_America
Hispanic and Latino Americans
Hispanic Americans and Latino Americans (Spanish: hispanos [isˈpanos], latinos) are United States citizens, descending from the peoples of the countries of Latin America and Iberia. More generally, it includes all persons in the United States who self-identify as Hispanic or Latino, whether of full or partial ancestry. For the US census in 2010, American Community Survey, people counted as "Hispanic" or "Latino" are those who identify as one of the specific Hispanic or Latino categories listed on the census or ACS questionnaire ("Mexican," "Puerto Rican," or "Cuban") as well as those who indicate that they are "other Spanish, Hispanic, or Latino." The countries or people who are in the Hispanic or Latino American groups as classified by the Census Bureau are the following: Spain, Mexico, Puerto Rico, Cuba, Dominican Republic, Costa Rica, Guatemala, Honduras, Nicaragua, Panama, El Salvador, Argentina, Bolivia, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela. It is important to note that the Census office of the U.S. excludes Brazilian Americans from the Hispanic and Latino American population (Brazil is part of Latin America, but has a Portuguese language culture rather than a Spanish language culture).
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Hispanic_and_Latino_Americans
Podcasts:
-
Making History: The Latin American Debt Crisis
Shearman & Sterling's important work during the Latin American debt crisis helped avert a global financial crisis, enabled the region to recover from the so-called "lost decade" and guided subsequent high-profile restructurings around the world.
published: 20 Jun 2014 -
The International Debt Crisis of 1982: Causes, Consequences, and Lessons Learned
In this video, we delve into the international debt crisis of 1982, which had a profound impact on the global economy. We examine the economic conditions that led to the crisis, the consequences for developing countries and financial institutions, and the policy responses implemented to manage the fallout. By exploring the lessons learned from this pivotal moment in global economic history, we gain a deeper understanding of the risks of excessive borrowing and the importance of responsible lending practices. Join us as we journey into the world of international finance and economics, and learn how the international debt crisis of 1982 continues to shape the global economic landscape today. Disclosure: Please note that none of the information in this video should be taken as financial advi...
published: 13 Mar 2023 -
Debt Crisis and Economic Collapse: Unveiling the Latin American Debt Crisis
Link to Video Transcript: https://pytc-history-en.blogspot.com/2023/05/3-debt-crisis-and-economic-collapse.html
published: 01 Jun 2023 -
Latin American Debt Crisis of the 1980s (Jeffry Frieden, Harvard University)
published: 28 Mar 2015 -
Latin American Debt Crisis of the 1980s
The Latin American debt crisis of the early 1980s was a severe financial turmoil triggered by rising global interest rates, falling commodity prices, and economic mismanagement. This crisis led to defaults by several countries, causing deep recessions, high inflation, and social unrest. International financial institutions intervened with emergency loans and imposed austerity measures, highlighting the vulnerabilities of developing economies to global financial fluctuations. #latinamerica #debtcrisis #economicimpact #imf #globalfinance
published: 05 Aug 2024 -
Latin American Debt crisis
published: 22 Apr 2016 -
Debt Crisis in Latin America
this is my final project for the subject risk analysis
published: 25 Jul 2020 -
Latin American Debt Crisis
published: 22 Apr 2016 -
Why Is Latin America still Poor
Why is Latin America poorer than North America? The massive differences in wealth between a rich United States and a relatively poor central and south America is startling and hard to explain at first. In the video we delve into the key historical, political and economic factors that have led to this inequality, finding that the answer is more startling and interesting than initially expected. Please Subscribe! https://www.youtube.com/c/CasualScholar?sub_confirmation=1 --Contents of this video-------------------------------- 00:00 - A Tale of Two Cities 01:29 - A Tale of Two Continents 04:03 - Spanish Colonization 07:09 - Enslaving Empire's 09:18 - The Mountain of Silver (Cerro Rico) 12:00 - English Colonization 13:30 - Why The United States is So Rich 15:38 - Why Latin America is Sti...
published: 06 Jan 2022 -
(Presentation) Debt Crisis In Latin America 1980
Muhammad Faiz Zikri Bin Roslan 047476 Section B
published: 23 Jul 2020
developed with YouTube
17:21
Making History: The Latin American Debt Crisis
- Order: Reorder
- Duration: 17:21
- Uploaded Date: 20 Jun 2014
- views: 8193
Shearman & Sterling's important work during the Latin American debt crisis helped avert a global financial crisis, enabled the region to recover from the so-cal...
Shearman & Sterling's important work during the Latin American debt crisis helped avert a global financial crisis, enabled the region to recover from the so-called "lost decade" and guided subsequent high-profile restructurings around the world.
https://wn.com/Making_History_The_Latin_American_Debt_Crisis
Shearman & Sterling's important work during the Latin American debt crisis helped avert a global financial crisis, enabled the region to recover from the so-called "lost decade" and guided subsequent high-profile restructurings around the world.
3:13
The International Debt Crisis of 1982: Causes, Consequences, and Lessons Learned
- Order: Reorder
- Duration: 3:13
- Uploaded Date: 13 Mar 2023
- views: 6159
In this video, we delve into the international debt crisis of 1982, which had a profound impact on the global economy. We examine the economic conditions that l...
In this video, we delve into the international debt crisis of 1982, which had a profound impact on the global economy. We examine the economic conditions that led to the crisis, the consequences for developing countries and financial institutions, and the policy responses implemented to manage the fallout. By exploring the lessons learned from this pivotal moment in global economic history, we gain a deeper understanding of the risks of excessive borrowing and the importance of responsible lending practices. Join us as we journey into the world of international finance and economics, and learn how the international debt crisis of 1982 continues to shape the global economic landscape today.
Disclosure: Please note that none of the information in this video should be taken as financial advice. The purpose of this video is for education and entertainment only. Please do your own research and due diligence before making any financial decisions. The content of this video is solely the opinion of the speaker and is not intended to be a substitute for professional financial advice. Always seek the advice of a qualified financial professional with any questions you may have regarding your financial situation.
https://wn.com/The_International_Debt_Crisis_Of_1982_Causes,_Consequences,_And_Lessons_Learned
In this video, we delve into the international debt crisis of 1982, which had a profound impact on the global economy. We examine the economic conditions that led to the crisis, the consequences for developing countries and financial institutions, and the policy responses implemented to manage the fallout. By exploring the lessons learned from this pivotal moment in global economic history, we gain a deeper understanding of the risks of excessive borrowing and the importance of responsible lending practices. Join us as we journey into the world of international finance and economics, and learn how the international debt crisis of 1982 continues to shape the global economic landscape today.
Disclosure: Please note that none of the information in this video should be taken as financial advice. The purpose of this video is for education and entertainment only. Please do your own research and due diligence before making any financial decisions. The content of this video is solely the opinion of the speaker and is not intended to be a substitute for professional financial advice. Always seek the advice of a qualified financial professional with any questions you may have regarding your financial situation.
- published: 13 Mar 2023
- views: 6159
5:32
Debt Crisis and Economic Collapse: Unveiling the Latin American Debt Crisis
- Order: Reorder
- Duration: 5:32
- Uploaded Date: 01 Jun 2023
- views: 771
Link to Video Transcript: https://pytc-history-en.blogspot.com/2023/05/3-debt-crisis-and-economic-collapse.html
Link to Video Transcript: https://pytc-history-en.blogspot.com/2023/05/3-debt-crisis-and-economic-collapse.html
https://wn.com/Debt_Crisis_And_Economic_Collapse_Unveiling_The_Latin_American_Debt_Crisis
Link to Video Transcript: https://pytc-history-en.blogspot.com/2023/05/3-debt-crisis-and-economic-collapse.html
- published: 01 Jun 2023
- views: 771
2:09
Latin American Debt Crisis of the 1980s (Jeffry Frieden, Harvard University)
- Order: Reorder
- Duration: 2:09
- Uploaded Date: 28 Mar 2015
- views: 7971
- published: 28 Mar 2015
- views: 7971
2:21
Latin American Debt Crisis of the 1980s
- Order: Reorder
- Duration: 2:21
- Uploaded Date: 05 Aug 2024
- views: 0
The Latin American debt crisis of the early 1980s was a severe financial turmoil triggered by rising global interest rates, falling commodity prices, and econom...
The Latin American debt crisis of the early 1980s was a severe financial turmoil triggered by rising global interest rates, falling commodity prices, and economic mismanagement. This crisis led to defaults by several countries, causing deep recessions, high inflation, and social unrest. International financial institutions intervened with emergency loans and imposed austerity measures, highlighting the vulnerabilities of developing economies to global financial fluctuations.
#latinamerica #debtcrisis #economicimpact #imf #globalfinance
https://wn.com/Latin_American_Debt_Crisis_Of_The_1980S
The Latin American debt crisis of the early 1980s was a severe financial turmoil triggered by rising global interest rates, falling commodity prices, and economic mismanagement. This crisis led to defaults by several countries, causing deep recessions, high inflation, and social unrest. International financial institutions intervened with emergency loans and imposed austerity measures, highlighting the vulnerabilities of developing economies to global financial fluctuations.
#latinamerica #debtcrisis #economicimpact #imf #globalfinance
- published: 05 Aug 2024
- views: 0
1:26
Latin American Debt crisis
- Order: Reorder
- Duration: 1:26
- Uploaded Date: 22 Apr 2016
- views: 192
- published: 22 Apr 2016
- views: 192
4:07
Debt Crisis in Latin America
- Order: Reorder
- Duration: 4:07
- Uploaded Date: 25 Jul 2020
- views: 1505
this is my final project for the subject risk analysis
this is my final project for the subject risk analysis
https://wn.com/Debt_Crisis_In_Latin_America
this is my final project for the subject risk analysis
- published: 25 Jul 2020
- views: 1505
0:48
Latin American Debt Crisis
- Order: Reorder
- Duration: 0:48
- Uploaded Date: 22 Apr 2016
- views: 118
- published: 22 Apr 2016
- views: 118
22:29
Why Is Latin America still Poor
- Order: Reorder
- Duration: 22:29
- Uploaded Date: 06 Jan 2022
- views: 5884033
Why is Latin America poorer than North America? The massive differences in wealth between a rich United States and a relatively poor central and south America i...
Why is Latin America poorer than North America? The massive differences in wealth between a rich United States and a relatively poor central and south America is startling and hard to explain at first. In the video we delve into the key historical, political and economic factors that have led to this inequality, finding that the answer is more startling and interesting than initially expected.
Please Subscribe! https://www.youtube.com/c/CasualScholar?sub_confirmation=1
--Contents of this video--------------------------------
00:00 - A Tale of Two Cities
01:29 - A Tale of Two Continents
04:03 - Spanish Colonization
07:09 - Enslaving Empire's
09:18 - The Mountain of Silver (Cerro Rico)
12:00 - English Colonization
13:30 - Why The United States is So Rich
15:38 - Why Latin America is Still Poor
20:33 - Why is Latin America Poorer than North America
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CASUAL SCHOLAR IS MADE POSSIBLE BY OUR PATREON COMMUNITY!
Support the channel by becoming a Patron today! 👉 https://www.patreon.com/CasualScholar
The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:
Talon Hickey, Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
--Sources used---------------------------------------------
Books:
- Why Nations Fail: The Origins of Power, Prosperity, and Poverty
- Bulmer-Thomas, V. (2003). The Economic History of Latin America since Independence (2nd ed., Cambridge Latin American Studies). Cambridge: Cambridge University Press. doi:10.1017/CBO9780511817397
Scholarly Articles:
- https://projects.iq.harvard.edu/files/history-culture-society-workshop/files/acemoglu_2.pdf
- Coatsworth, John H. “Inequality, Institutions and Economic Growth in Latin America.” Journal of Latin American Studies, vol. 40, no. 3, Cambridge University Press, 2008, pp. 545–69, http://www.jstor.org/stable/40056706.
- https://www.nber.org/system/files/chapters/c10652/c10652.pdf
#WhyisLatinAmericaPoorerthanNorthAmerica #LatinAmerica #Venezuela #Mexico #Economics #WhyisTheUnitedStatesSoRich
https://wn.com/Why_Is_Latin_America_Still_Poor
Why is Latin America poorer than North America? The massive differences in wealth between a rich United States and a relatively poor central and south America is startling and hard to explain at first. In the video we delve into the key historical, political and economic factors that have led to this inequality, finding that the answer is more startling and interesting than initially expected.
Please Subscribe! https://www.youtube.com/c/CasualScholar?sub_confirmation=1
--Contents of this video--------------------------------
00:00 - A Tale of Two Cities
01:29 - A Tale of Two Continents
04:03 - Spanish Colonization
07:09 - Enslaving Empire's
09:18 - The Mountain of Silver (Cerro Rico)
12:00 - English Colonization
13:30 - Why The United States is So Rich
15:38 - Why Latin America is Still Poor
20:33 - Why is Latin America Poorer than North America
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CASUAL SCHOLAR IS MADE POSSIBLE BY OUR PATREON COMMUNITY!
Support the channel by becoming a Patron today! 👉 https://www.patreon.com/CasualScholar
The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:
Talon Hickey, Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
--Sources used---------------------------------------------
Books:
- Why Nations Fail: The Origins of Power, Prosperity, and Poverty
- Bulmer-Thomas, V. (2003). The Economic History of Latin America since Independence (2nd ed., Cambridge Latin American Studies). Cambridge: Cambridge University Press. doi:10.1017/CBO9780511817397
Scholarly Articles:
- https://projects.iq.harvard.edu/files/history-culture-society-workshop/files/acemoglu_2.pdf
- Coatsworth, John H. “Inequality, Institutions and Economic Growth in Latin America.” Journal of Latin American Studies, vol. 40, no. 3, Cambridge University Press, 2008, pp. 545–69, http://www.jstor.org/stable/40056706.
- https://www.nber.org/system/files/chapters/c10652/c10652.pdf
#WhyisLatinAmericaPoorerthanNorthAmerica #LatinAmerica #Venezuela #Mexico #Economics #WhyisTheUnitedStatesSoRich
- published: 06 Jan 2022
- views: 5884033
3:58
(Presentation) Debt Crisis In Latin America 1980
- Order: Reorder
- Duration: 3:58
- Uploaded Date: 23 Jul 2020
- views: 892
Muhammad Faiz Zikri Bin Roslan
047476
Section B
Muhammad Faiz Zikri Bin Roslan
047476
Section B
https://wn.com/(Presentation)_Debt_Crisis_In_Latin_America_1980
Muhammad Faiz Zikri Bin Roslan
047476
Section B
- published: 23 Jul 2020
- views: 892
17:21
Making History: The Latin American Debt Crisis
Shearman & Sterling's important work during the Latin American debt crisis helped avert a ...
published: 20 Jun 2014
Making History: The Latin American Debt Crisis
Making History: The Latin American Debt Crisis
- Report rights infringement
- published: 20 Jun 2014
- views: 8193
Shearman & Sterling's important work during the Latin American debt crisis helped avert a global financial crisis, enabled the region to recover from the so-called "lost decade" and guided subsequent high-profile restructurings around the world.
3:13
The International Debt Crisis of 1982: Causes, Consequences, and Lessons Learned
In this video, we delve into the international debt crisis of 1982, which had a profound i...
published: 13 Mar 2023
The International Debt Crisis of 1982: Causes, Consequences, and Lessons Learned
The International Debt Crisis of 1982: Causes, Consequences, and Lessons Learned
- Report rights infringement
- published: 13 Mar 2023
- views: 6159
In this video, we delve into the international debt crisis of 1982, which had a profound impact on the global economy. We examine the economic conditions that led to the crisis, the consequences for developing countries and financial institutions, and the policy responses implemented to manage the fallout. By exploring the lessons learned from this pivotal moment in global economic history, we gain a deeper understanding of the risks of excessive borrowing and the importance of responsible lending practices. Join us as we journey into the world of international finance and economics, and learn how the international debt crisis of 1982 continues to shape the global economic landscape today.
Disclosure: Please note that none of the information in this video should be taken as financial advice. The purpose of this video is for education and entertainment only. Please do your own research and due diligence before making any financial decisions. The content of this video is solely the opinion of the speaker and is not intended to be a substitute for professional financial advice. Always seek the advice of a qualified financial professional with any questions you may have regarding your financial situation.
5:32
Debt Crisis and Economic Collapse: Unveiling the Latin American Debt Crisis
Link to Video Transcript: https://pytc-history-en.blogspot.com/2023/05/3-debt-crisis-and-e...
published: 01 Jun 2023
Debt Crisis and Economic Collapse: Unveiling the Latin American Debt Crisis
Debt Crisis and Economic Collapse: Unveiling the Latin American Debt Crisis
- Report rights infringement
- published: 01 Jun 2023
- views: 771
Link to Video Transcript: https://pytc-history-en.blogspot.com/2023/05/3-debt-crisis-and-economic-collapse.html
2:09
Latin American Debt Crisis of the 1980s (Jeffry Frieden, Harvard University)
published: 28 Mar 2015
Latin American Debt Crisis of the 1980s (Jeffry Frieden, Harvard University)
Latin American Debt Crisis of the 1980s (Jeffry Frieden, Harvard University)
- Report rights infringement
- published: 28 Mar 2015
- views: 7971
2:21
Latin American Debt Crisis of the 1980s
The Latin American debt crisis of the early 1980s was a severe financial turmoil triggered...
published: 05 Aug 2024
Latin American Debt Crisis of the 1980s
Latin American Debt Crisis of the 1980s
- Report rights infringement
- published: 05 Aug 2024
- views: 0
The Latin American debt crisis of the early 1980s was a severe financial turmoil triggered by rising global interest rates, falling commodity prices, and economic mismanagement. This crisis led to defaults by several countries, causing deep recessions, high inflation, and social unrest. International financial institutions intervened with emergency loans and imposed austerity measures, highlighting the vulnerabilities of developing economies to global financial fluctuations.
#latinamerica #debtcrisis #economicimpact #imf #globalfinance
1:26
Latin American Debt crisis
published: 22 Apr 2016
Latin American Debt crisis
4:07
Debt Crisis in Latin America
this is my final project for the subject risk analysis
published: 25 Jul 2020
Debt Crisis in Latin America
Debt Crisis in Latin America
- Report rights infringement
- published: 25 Jul 2020
- views: 1505
this is my final project for the subject risk analysis
0:48
Latin American Debt Crisis
published: 22 Apr 2016
Latin American Debt Crisis
22:29
Why Is Latin America still Poor
Why is Latin America poorer than North America? The massive differences in wealth between ...
published: 06 Jan 2022
Why Is Latin America still Poor
Why Is Latin America still Poor
- Report rights infringement
- published: 06 Jan 2022
- views: 5884033
Why is Latin America poorer than North America? The massive differences in wealth between a rich United States and a relatively poor central and south America is startling and hard to explain at first. In the video we delve into the key historical, political and economic factors that have led to this inequality, finding that the answer is more startling and interesting than initially expected.
Please Subscribe! https://www.youtube.com/c/CasualScholar?sub_confirmation=1
--Contents of this video--------------------------------
00:00 - A Tale of Two Cities
01:29 - A Tale of Two Continents
04:03 - Spanish Colonization
07:09 - Enslaving Empire's
09:18 - The Mountain of Silver (Cerro Rico)
12:00 - English Colonization
13:30 - Why The United States is So Rich
15:38 - Why Latin America is Still Poor
20:33 - Why is Latin America Poorer than North America
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CASUAL SCHOLAR IS MADE POSSIBLE BY OUR PATREON COMMUNITY!
Support the channel by becoming a Patron today! 👉 https://www.patreon.com/CasualScholar
The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:
Talon Hickey, Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
--Sources used---------------------------------------------
Books:
- Why Nations Fail: The Origins of Power, Prosperity, and Poverty
- Bulmer-Thomas, V. (2003). The Economic History of Latin America since Independence (2nd ed., Cambridge Latin American Studies). Cambridge: Cambridge University Press. doi:10.1017/CBO9780511817397
Scholarly Articles:
- https://projects.iq.harvard.edu/files/history-culture-society-workshop/files/acemoglu_2.pdf
- Coatsworth, John H. “Inequality, Institutions and Economic Growth in Latin America.” Journal of Latin American Studies, vol. 40, no. 3, Cambridge University Press, 2008, pp. 545–69, http://www.jstor.org/stable/40056706.
- https://www.nber.org/system/files/chapters/c10652/c10652.pdf
#WhyisLatinAmericaPoorerthanNorthAmerica #LatinAmerica #Venezuela #Mexico #Economics #WhyisTheUnitedStatesSoRich
3:58
(Presentation) Debt Crisis In Latin America 1980
Muhammad Faiz Zikri Bin Roslan
047476
Section B
published: 23 Jul 2020
(Presentation) Debt Crisis In Latin America 1980
(Presentation) Debt Crisis In Latin America 1980
- Report rights infringement
- published: 23 Jul 2020
- views: 892
Muhammad Faiz Zikri Bin Roslan
047476
Section B
Latin American debt crisis
The Latin American debt crisis was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as the "lost decade", when Latin American countries reached a point where their foreign debt exceeded their earning power and they were not able to repay it.
Origins
In the 1960s and 1970s many Latin American countries, notably Brazil, Argentina, and Mexico, borrowed huge sums of money from international creditors for industrialization; especially infrastructure programs. These countries had soaring economies at the time so the creditors were happy to continue to provide loans. Initially, developing countries typically garnered loans through public routes like the World Bank. After 1973, private banks had an influx of funds from oil-rich countries and believed that sovereign debt was a safe investment.
Between 1975 and 1982, Latin American debt to commercial banks increased at a cumulative annual rate of 20.4 percent. This heightened borrowing led Latin America to quadruple its external debt from $75 billion in 1975 to more than $315 billion in 1983, or 50 percent of the region's gross domestic product (GDP). Debt service (interest payments and the repayment of principal) grew even faster, reaching $66 billion in 1982, up from $12 billion in 1975.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Latin_American_debt_crisis
Making History: The Latin American Debt Crisis...
The International Debt Crisis of 1982: Causes, Con...
Debt Crisis and Economic Collapse: Unveiling the L...
Latin American Debt Crisis of the 1980s (Jeffry Fr...
Latin American Debt Crisis of the 1980s...
Latin American Debt crisis...
Debt Crisis in Latin America...
Latin American Debt Crisis...
Why Is Latin America still Poor...