Introduction

This part introduction presents an overview of the key concepts discussed in the subsequent chapters. The part explores the changing interactions between debtors and creditors when things fall apart and projects possible changes in the interactions among developed and developing countries, private bank lenders, and the International Monetary Fund in the handling of international debt and debt servicing. It looks at the same problems in renegotiations involving private creditors and the governments of Zaire, Indonesia, and Turkey. The part analyzes the political influence of private banks on the international debt scene and tries to indicate the dimensions of their possible power in dealing with developed and developing states. It explores different aspects of debtor-creditor renegotiations in the light of these developments. The part examines how the pressures on the Peruvian government to meet the servicing of its external debt influenced the ability of the government to meet the developmental needs of its population.