SOSC 2800 Lecture Notes - Lecture 12: Structural Adjustment, Neoliberalism, Conditionality
9 Jan 2017
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Week 12 - the international debt regime and development. Imf, wb, and industrialized country governments - created the international debt regime - transferred the cost of debts from developed to developing countries. International level - when developing countries could not repay loan - creditors imposed the. International debt regime - heavily indebted countries forbidden from accessing more. Nancial assistance unless implementing the proposed neoliberal policies and reforms. Only can receive more loans through structural adjustment programs enforced by wb and. Developing countries fail to resist against policies. Rich countries transferred cost of the debt crises to developing ones - because they were better able to exploit the opportunities. Debt crises of the 1980s - both lenders and debtors - power of rich creditors laid in their ability to access more nancing - had ability to limit and deny this access to funding. Lenders: industrialized countries, big banks, small banks, and international institutions.
