Developments in and Prospects for the External Debt of the Developing Countries: 1970-1980 and Beyond

摘要

Much has been made of the perils to the developing countries - and to the international banking system - from the rapid expansion of their debt during the 1970s. This paper examines the borrowing patterns of developing countries, as they have evolved over the past decade, by drawing on data contained in the Debtor Reporting System (DRS) of the World Bank. Changes in the debt situation of these countries - in aggregrate, for important sub-groups, and individually - are assessed by a consideration of how debt and associated service payments have changed relative to major macro-economic variables that are often used to assess a borrowing country's creditworthiness. The paper then examines the prospects for borrowing during the 1980s. (Copyright (c) The World Bank 1818 H Street, N. W. Washington, D. C. 20433 U.S.A. 1981.)