Description
This study provides an in-depth analysis of the external debt problem of a country–Mexico–that allegedly faces a “debt overhang,” which inhibits long-term growth-oriented investment. Issues facing the debtor nation and its commercial bank creditors are simultaneously examined in order to move closer towards an understanding of the situation of debt-distressed developing countries. The need to address these issues on a case-by-case basis is emphasized, as opposed to a global approach to solving the debt crisis presently recommended by some.
