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Frontmatter -- CONTENTS -- List of Figures -- List of Tables -- Acknowledgments -- Foreword -- Introduction -- PART I DEBT CRISIS IN THE THIRD WORLD -- Chapter 1 The Outlook for Development -- Chapter 2 External Shocks, Adjustment, and Income Distribution -- Chapter 3 Losers Pay Reparations, Or How the Third World Lost the Lending War -- PART II THE DEBT CRISIS AND COMMERCIAL BANKS -- Chapter 4 Background to the Debt Crisis: Structural Adjustment in the Financial Markets -- Chapter 5 Safe Passage Through Dire Straits: Managing an Orderly Exit from the Debt Crisis -- PART III STRUCTURAL ADJUSTMENT: SOLUTION OR PART OF THE PROBLEM -- Chapter 6 World Bank-Supported Adjustment Programs -- Chapter 7 Assessing Structural Adjustment Programs: A Summary of Country Experience -- Chapter 8 Undervaluation, Adjustment, and Growth -- Chapter 9 Old Wine in New Bottles: Policy-Based Lending in the 1980s -- PART IV STRUCTURAL ADJUSTMENT: IMPACT IN THE THIRD WORLD -- Chapter 10 Social Costs of Adjustment in Latin America -- Chapter 11 Political Change and Economic Policy in Latin America and the Caribbean in 1988 -- Chapter 12 The Demise of the Labor Aristocracy in Africa: Structural Adjustment in Tanzania -- PART V SEEKING A SOLUTION -- Chapter 13 Facing the Realities of the Debt Crisis -- Chapter 14 From Adjustment with Recession to Adjustment with Growth -- Chapter 15 From Adjustment and Restructuring to Development -- Chapter 16 Is to Forgive the Debt Divine? -- Chapter 17 Foreign Lending at the Brink -- Bibliography -- Index -- About the Contributors -- About the Editor