International Indebtedness and the Developing Countries

First published in 1979, this study focuses upon two of the major economic problems faced by developing countries: massive foreign debts and the shortage of foreign funds offered on concessional terms for development purposes. The relationship between the two is highlighted in the effect that debt accumulation has on ministering the increase of debt service payments, and to lessen resources for development purposes.The author advances an integrated proposal for using debt relief as an end in itself, - to reduce the level of indebtedness, and as a means to a further end, - to provide additional funds for development.