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Origins of the Brazilian Foreign Debt Burden (Part 1)

LADB Article ID: 76932
Category/Department: Brazil
Date: 1987-03-17
By: Guest

In this three-part series, Brazilian journalist Paulo R. Schilling describes the historical development of his country's huge foreign debt burden, major beneficiaries and losers in the process of accumulating the largest foreign debt in the world, and the pros and cons of certain "solutions" to the debt crisis. The first part emphasizes the fact that the lion's share of the debt, now estimated at about $110 billion, was accumulated during 21 years of military rule. Schilling argues that military leaders and the international banking community are equally responsible for the massive debt

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