Exam 15: Debt and Development

Neoliberalism is linked to which political philosophies?

International lending is said to go through which two phases?

Over the decade, developing-country debt decreased sevenfold, to $494 billion in 1980.

In the mid-1970s some poor countries had to repay less than they had borrowed.

Where did banking originate?

Neoliberal policy strongly favours privatization.

What were the consequences of loan pushing during the 1970s?

In the 1930s, borrowers underwent SAPs but without it being identified as such.

Debt cancellation has led to dramatic decrease in developing country debt.

The Bretton Woods institutions are generally supportive of debt forgiveness.

What is the difference between the debt crisis in the 1930s and the 1980s?

Since the US borrowed money from Britain in 1945, the United States required Britain to move quickly to free trade and to make the pound convertible to the dollar.

Traditionally, how have most countries developed?

In 2015, the Greek parliament declared that its debt was reasonable and repayable.

What caused the 2008 financial crisis?

The sharp increase in foreign holdings of US dollars at the start of the twenty-first century was caused by which of the following?

How has Norway operationalized the concept of odious debt?

The decade of the 1970s saw a sharp increase in loan pushing due to a surplus of capital.

What did bankruptcy laws replace in the nineteenth century?

In 1982, Mexico could not pay the interest on its $60-billion debt and defaulted, ending a long period of a massive debt crisis.