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Synopsis of Debt Relief Initiative Proposed by U.S. Sen. Bill Bradley

LADB Article ID: 76912
Category/Department: LADB Staff
Date: 1987-03-19
By: LADB Staff

In late June 1986, Sen. Bill Bradley (D-NJ) proposed a debt initiative to replace the Reagan administration's debt relief program, known as the Baker Plan. The Bradley initiative is grounded on the following assumptions: developing nations' efforts to cope with respective foreign debt burdens have virtually stalled their economic development; the Third World debt burden has resulted in reduced US industrial output and trade levels, and the loss of 1.4 million jobs; and, continued economic recession in Latin American countries poses serious risks in maintaining and expanding democratic political processes.

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