El Problema de la Deuda y Desarrollo Económico en América Latina

The outward transfer of resources from Latin American hinders growth and economic restructuring when aggravating the foreign exchange constraint and the savings/fiscal constraint in this region. In the absence of svstematic payment guarentees, debt reduction schemes through market optionk promise to reduce the transfer burden only gradually. On the other hand, a more ambitious public policy initiative that recognizes the collective nature of the debt problem, will surely allow a more significant and orderly reduction of it. If will also be socially efficient and it will extend to more countries.