Chapter

Creditor Initiatives in the 1980s and 1990s

David Roodman

in Sovereign Debt at the Crossroads

Published in print April 2006 | ISBN: 9780195168006
Published online May 2006 | e-ISBN: 9780199783458 | DOI: http://dx.doi.org/10.1093/0195168003.003.0002
 Creditor Initiatives in the 1980s and 1990s

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This chapter presents an overview of the sovereign-debt initiatives from the last twenty-five years. It examines the programs devised by creditors, namely the World Bank and IMF, during the 1980s and 1990s, that aimed at addressing the mounting problem of developing-country debt. The “austerity” lending of the 1980s and the structural adjustment programs of the 1990s are discussed, and the inherent failings that characterized those efforts, including reduced public investment which has led to economic stagnation, are criticized.

Keywords: sovereign-debt initiative; creditors; IMF; World Bank; austerity lending; structural adjustment program; public investment

Chapter.  10016 words.  Illustrated.

Subjects: Economic Development and Growth

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