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Mexico Crude oil prices from 1861 to 2011. The Latin American debt crisis (Spanish: Crisis de la deuda latinoamericana; Portuguese: Crise da dívida latino-americana) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as La Década Perdida (The Lost Decade), when Latin American countries reached a point where their foreign debt ...
There are Latin American economic crises: Latin American debt crisis of the 1970s and 1980s; La Década Perdida - the Lost Decade for Mexico; Economic history of Mexico § 1982 crisis and recovery; Great Depression in Latin America - the effects of the Great Depression of the 1930s on Latin America; Venezuelan banking crisis of 1994
British credit crisis of 1772–1773 – started in London and Amsterdam, begun by the collapse of the bankers Neal, James, Fordyce, and Down. War of American Independence Financing Crisis (1776) (United States) – The French monarchy went deeply into debt to finance its 1.4 billion livre support for the colonial rebels; Spain invested 700 ...
Baring crisis [23] 1982: Latin American debt crisis [23] 1988–89: Latin American debt crisis [23] 2001: Following years of instability, the Argentine economic crisis (1999–2002) came to a head, and a new government announced it could not meet its public debt obligations. [23] 2005–16: Argentine debt restructuring. 2014 [24] [25] 2020 [26 ...
During García's administration, the per-capita annual income of Peruvians fell to $720, which was below 1960 levels, and Peru's GDP dropped by 20%. By the end of his term, the national reserves cumulatively were $900 million in debt. [7] García's term was also characterized by heavy increases in poverty.
But the general economic downturn of the 1980s plunged Latin American economies into crisis. [133] Latin American countries' borrowing from U.S. and other international banks exposed them to extreme risk when interest rates rose in the lending countries and commodity prices fell in the borrowing countries.
Meanwhile, increasing the national debt is one of the few bipartisan trends in America. Both Donald Trump and Joe Biden have added around $7 trillion each to the total debt burden during their terms.
The boom ended in the economic crisis of 1982. The Latin American debt crisis had a devastating impact on every Latin American country, but Chile was hit hardest with a GDP declined by 14%, while Latin American GDP diminished by 3.2% within the same period. [126]