Suchergebnisse

The Latin American and Caribbean countries are facing a serious financial crisis. External debt in the region is over $360 billion, and seven South American countries are among the ten largest debtors in the world. Interest payments alone required, in the years of 1982, 1983, and 1984, more than 35% of total regional exports of goods and services, a percentage which reached the extreme level of over 50% for one country. To be sure, this problem mostly affects the largest economies, since most of the Central American and Caribbean countries apply to interest payments less than 20% of their exports. The debt problem is a reality for the entire region, and it makes it difficult for all the countries to obtain new external financing.