Philippine E-Journals

Comparative Survey Of Debt Conversion Schemes Among Selected Third World Countries

Evelyn Segui Belleza

Discipline: Economics, Business

 

Abstract:

A pressing challenge to economic survivalfaced by Third World economies since theearly 1980's has been the huge debt repaymentproblem. In 1985, the World Bank declaredthat the Third World debt had passed the onetrillion U.S. dollar mark (see Appendix A andB), which was equivalent to 45% of thedeveloping countries' combined annual outputof goods and services. By the end of 1990,this Third World debt is estimated to reachU.S. $1.3 trillion.