No Banking on Brady

England, Robert Stowe
March 1990
National Review;3/19/1990, Vol. 42 Issue 5, p41
Discusses the major debt relief strategy, the Brady Plan, and its application for the Third World countries. Design of the Brady plan to give debtor countries mark-downs in commercial bank debts and loans; Need for debtor countries to enact macroeconomics and free-market reforms; Failure of the strategy due to the net reduction in debt; Replacement of commercial debt by debt backed by Western taxpayers.


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