In August 1982, Mexico announced that it was no longer able to satisfy terms of its foreign debt commitments. This precipitated similar moves by other developing countries, and set in motion the debt crisis which has affected international financial markets ever since. Debt restructuring, in which governments of debtor and creditor countries, international organizations and commercial banks all played a part, represented the main response to the debt crisis. In the free markets themselves, however, two developments have stood out as the most important new techniques developed as a direct result of the debt crisis: asset trading and debt conversion.
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- Asset Trading and Debt Conversion
F. D. van Loon
- Palgrave Macmillan UK
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