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The debt crisis of 1982 was the most serious of Latin America's history. Incomes and imports dropped; economic growth stagnated; unemployment rose to high levels; and inflation reduced the buying power of the middle classes. [8] In fact, in the ten years after 1980, real wages in urban areas actually dropped between 20 and 40 percent. [12]
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 ...
Evolution of GDP growth. The economic history of Argentina is one of the most studied, owing to the "Argentine paradox". As a country, it had achieved advanced development in the early 20th century but experienced a reversal relative to other developed economies, which inspired an enormous wealth of literature and diverse analysis on the causes of this relative decline. [2]
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]
The lack of focus on Latin American development in the post-war period was addressed by the creation of the Inter-American Development Bank (IDB) was established in April 1959, by the U.S. and initially nineteen Latin American countries, to provide credit to Latin American governments for social and economic development projects. Earlier ideas ...
The Latin American debt crisis had a devastating impact on every Latin American country, but Chile was hit hardest with a GDP decline by 14%, while Latin American GDP diminished by 3.2% within the same period. [11] Besides the Petrodollar recycling and the 1979 energy crisis there were some