POLB90 Week10 Lecture .docx

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Department
Political Science
Course
POLB90H3
Professor
R Rice
Semester
Fall

Description
I Debt crisis Defined Debt Crisis in 1989 Mexico announced that it would not be able to make the interest demand in foreign debt causing international debt to place a moratorium in new landing to global south it to recall existing loans 74 of debt from Latin America 8 US Banks II 1970s Debtled GrowthEra of industrialization growth for much of the developing world ISIGDP Growth rate 61973 Oil Crisis because OPEC Organization of Petroleum Exporting CountrySharp Increase in Oil price that coincides with a decline in primary commodity prices left much the Global SouthLatin American Debt Progression 1970 owed 29 Billion 1978 owed 159 Billion 1982 owed 327 Billion OPECPetrodollars Oil income European Banks and US III 1980s The Lost Decade In development
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