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This investigation will try to test the level of external debt and measure its impact upon the least economicly developed countries economy.
Member rating: No Rating | Words: | Submitted: Mon Oct 11 2004
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INTRODUCTION 1.1 The increasing burden of external debt in the least economic developed countries has been a widely discussed topic in the international community. However, some concepts are shared by most of the economists, being this a reality in third world country economies. Without a doubt, the increasing flow of external resources from rich countries to poor countries, has contributed, in some cases, to impulse economic development and accelerate economic growth. However, it is also evident that an increase in the amount of external debt and the hardening of its financial conditions has resulted in a net outflow of payments, mainly capital plus interest, which has slowed down economic development. The logical consequence has been an increase in the external debt; a problem that has worsened since these additional resources have not been used in social projects whereas in the long run, the benefits are higher than the...
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