ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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An American Thriller

reschedulings which carry more stringent terms with regard to maturities, interest rate mark-up and other charges as quid pro quo for relief in repayments falling due in the immediate future. This is in addition to the policy programmes foisted on these countries, programmes which, as Garcia describes them, hardly ever succeed in reactivating the economy. The irony of the whole situation is that while so much song and dance is made of the need for debtor countries to follow appropriate readjustment policies, the countries, and people, who profess these programmes are unprepared to underwrite them by allowing debt servicing to be tied to the fruits of these programmes.

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