A New Debt Crisis? Assessing the Impact of the Financial Crisis on Developing Countries
AbstractThis report is intended as a wake-up call to anyone who thinks the developing world debt crisis has been resolved. In fact, it assesses fears of a new debt crisis, more serious than before, spreading to nearly 40 countries. 38 of the 43 countries that the World Bank calculates are most vulnerable to the economic crisis already required substantial debt cancellation before the current crisis, in order to meet the needs of their people. As their situation considerably worsens, many more countries could join them. The solution lies in far-reaching reforms of the global economy which would ensure more responsible, sustainable and just lending whilst also reducing the dependence of developing countries on international capital
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Bibliographic InfoPaper provided by eSocialSciences in its series Working Papers with number id:2044.
Date of creation: Jun 2009
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international debt; international capital; global economy; global economic reforms; World Bank; developing country debt; IMF; International Monetary Fund; international finance; Economics;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-07-03 (All new papers)
- NEP-DEV-2009-07-03 (Development)
- NEP-FDG-2009-07-03 (Financial Development & Growth)
- NEP-PKE-2009-07-03 (Post Keynesian Economics)
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