Excessive external debt is often responsible for the stagnation of economic growth given that the uncertainty it creates discourages the private sector from investing in the economy for fear about the stability of the government, and it also discourages public investment and reforms given that policy makers are aware that any benefits would be likely to be transferred abroad in the form of debt servicing. ... The reason why this crisis will not be the main focus of my attention despite the fact that it had devastating consequences and led the 1980's to become known in Latin America as "...

• Word Count: 2437
• Approx Pages: 10
• Grade Level: Graduate