Environmental Milestones


ECONOMICS
8/12/1982
Mexico, and later other developing and Eastern bloc countries, come close to defaulting on $250 billion in international loans, sparking a debt crisis. Lenders extend additional loans to these countries to prevent default in a way that sets the stage for future debt disasters.

Source

"The LDC Debt Crisis," in FDIC, History of the Eighties - Lessons for the Future (1997)

Links

Worldwatch Links


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