Palma, Pedro A. (1990) The Solution to the Crisis (Latin America) Monthly Report. Caracas: MetroEconómica. Special Section. January. Pp. 31-37.
As the 1990s got under way, Venezuelans – and Latín Americans in general- were naturally wondering whether that was going to be yet another lost decade like the 1980s, or whether we could finally overcome the long-lasting debt crisis.
It was obvious that the foreign debt problem could only be solved when conditions were created under which both debtors and creditors came to a rational agreement on a plan whose implicit costs were equitably distributed. Among other things, the governments of the creditor countries had to take a true and sincere interest in developing an effective way of attacking the problem; their role consisted not only of providing essential financial and political support, but also of creating conditions that would bring the debtors and creditors closer together.
This paper was presented at the Spring Project Link meeting at the United Nations. New York: March 7-9, 1990.