This volume is the record of a conference held in March 1989 that
centered on a departure from the basic U.S. policy toward the
long-standing problem of third world debt.Secretary of the Treasury
Nicholas Brady took the occasion of the conference to announce that
officially sponsored reduction of debt principal and debt interest
should henceforth be an integral part of debt strategy. Promptly
labeled the Brady Plan, the secretary's statement has since been
the subject of extensive debate at home and abroad. Now that it has
been given official sanction, debt service reduction has become an
inescapable feature of the ongoing effort to manage and resolve the
debt problem.This volume considers the implications of introducing
debt and debt service reduction into the preexisting menu of
policies and, more specifically, to suggest the conditions under
which it can be expected to hasten the removal of the third world
debt problem from the international economic agenda.
General
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