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  • Latin American Debt Crisis

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    Luiza Weber
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    The document summarizes the origins and history of the Latin American debt crisis in the early 1980s. It was caused by a combination of factors including the 1973 oil crisis, rising US interest rates in 1979-1980, and Latin American countries taking on large debts. This led Mexico to declare a debt moratorium in 1982 and plunged the region into its most serious economic crisis, increasing unemployment and inflation across South America as the countries struggled under the weight of their debts.

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    Latin American debt crisis

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    The document summarizes the origins and history of the Latin American debt crisis in the early 1980s. It was caused by a combination of factors including the 1973 oil crisis, rising US interest rates in 1979-1980, and Latin American countries taking on large debts. This led Mexico to declare a debt moratorium in 1982 and plunged the region into its most serious economic crisis, increasing unemployment and inflation across South America as the countries struggled under the weight of their debts.

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    © All Rights Reserved
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    23 views4 pages

    Latin American Debt Crisis

    Uploaded by

    Luiza Weber
    The document summarizes the origins and history of the Latin American debt crisis in the early 1980s. It was caused by a combination of factors including the 1973 oil crisis, rising US interest rates in 1979-1980, and Latin American countries taking on large debts. This led Mexico to declare a debt moratorium in 1982 and plunged the region into its most serious economic crisis, increasing unemployment and inflation across South America as the countries struggled under the weight of their debts.

    Copyright:

    © All Rights Reserved
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    of 4

    Latin American debt

    crisis
    E A R LY 1 9 8 0 S

    Murilo Cavallaro Tambasco RA: 202010133


    Luiza Weber RA: 202010125
    Origins
    1929: Great Depression

    1930: Import Substitution

    1950-80: Latin American Industrialization


    • 1973-78: Oil crisis, the prices skyrocketed
     development of OPEC - Organization of
    Petroleum Exporting Countries
     Increase in the U.S. inflation rate
    • 1979: increase in U.S. interest rates (Fed)
    • 1980: Latin American debt crisis sets in
    • 1982: declaration of Mexico’s debt moratorium
    History and effects of the crisis
    • Succession of economic problems that hit the Latin American economies, beginning with
    the declaration of a moratorium on the foreign debt in 1982 in Mexico.

    • The most serious crisis that has plagued the South American continent.

    • This crisis was responsible for the generalized increase in unemployment and the rise in
    inflation. The external debt contracted by the economies initiated the domination of the
    central countries in relation to the national markets of the underdeveloped countries.
    International Monetary Fund

    • Neoliberalism

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