The global debt burden has proven to be a bad bargain for developed
and developing countries alike. This selection of case studies
illustrates the complexity of international financial negotiations
and the difficulty of reaching international agreements
satisfactory to both creditors and debtors. The key aspects of
debtor country bargaining power are explored-size, strategic
significance, internal cohesion, and political stability-as we read
of creditors flexing their financial muscles to produce domestic
economic reform without significant international debt relief. This
volume brings together a theoretical overview of the subject, cases
describing the principal institutional actors, carefully excerpted
cases of bilateral financial negotiations, sugggestions for further
reading, and a helpful glossary of technical terms. It illuminates
how complex international financial negotiations are conducted and
what their impact is on both the domestic political economy and the
international relations of the countries involved.
General
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