Abstract
By the end of 1987 the total external indebtedness of developing countries exceeded $1 trillion, or half of their combined GNPs. Associated debt service payments amounted to roughly one-fifth of annual earnings from the export of goods and services. After allowing for new lending, LDCs were making net transfers to private and official creditors of between $9 and $10 billion annually after 1984 (World Bank, 1988d).
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© 1991 Macmillan Publishers Limited
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Snowden, P.N. (1991). Managing the Debt Legacy: Approaches to Resolution. In: Balasubramanyam, V.N., Lall, S. (eds) Current Issues in Development Economics. Current Issues in Economics. Palgrave, London. https://doi.org/10.1007/978-1-349-21587-4_9
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DOI: https://doi.org/10.1007/978-1-349-21587-4_9
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-51324-8
Online ISBN: 978-1-349-21587-4
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