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Treasury Secretary James Baker's "Program For Sustained Growth" For The International Debt Crisis: Three Steps Toward Global Financial Security, Nancy A. Aliquo
Treasury Secretary James Baker's "Program For Sustained Growth" For The International Debt Crisis: Three Steps Toward Global Financial Security, Nancy A. Aliquo
Penn State International Law Review
This comment will offer a brief overview of the factors leading up to the present international debt crisis. The second and third prongs of Secretary Baker's Program for Sustained Growth will then be analyzed with particular emphasis on the roles Secretary Baker recommends that the IMF, the World Bank, and multinational commercial lending institutions play in resolving the LDC crisis. Last, actions that must be taken by the LDCs as well as LDC demands for trade liberalization will be discussed, along with the effects such trade liberalization would have on the LDC debt situation.