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<span>History</span> </div> </a> <ul id="toc-History-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Effects" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Effects"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Effects</span> </div> </a> <ul id="toc-Effects-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-International_Monetary_Fund" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#International_Monetary_Fund"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>International Monetary Fund</span> </div> </a> <ul id="toc-International_Monetary_Fund-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-2015_levels_of_external_debt" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#2015_levels_of_external_debt"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>2015 levels of external debt</span> </div> </a> <ul id="toc-2015_levels_of_external_debt-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" 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Available in 14 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-14" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">14 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A3%D8%B2%D9%85%D8%A9_%D8%AF%D9%8A%D9%88%D9%86_%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D8%A7_%D8%A7%D9%84%D9%84%D8%A7%D8%AA%D9%8A%D9%86%D9%8A%D8%A9" title="أزمة ديون أمريكا اللاتينية – Arabic" lang="ar" hreflang="ar" data-title="أزمة ديون أمريكا اللاتينية" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%9B%D0%B0%D1%82%D0%B8%D0%BD%D0%BE%D0%B0%D0%BC%D0%B5%D1%80%D0%B8%D0%BA%D0%B0%D0%BD%D1%81%D0%BA%D0%B0_%D0%B4%D1%8A%D0%BB%D0%B3%D0%BE%D0%B2%D0%B0_%D0%BA%D1%80%D0%B8%D0%B7%D0%B0" title="Латиноамериканска дългова криза – Bulgarian" lang="bg" hreflang="bg" data-title="Латиноамериканска дългова криза" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Crisi_del_deute_llatinoameric%C3%A0" title="Crisi del deute llatinoamericà – Catalan" lang="ca" hreflang="ca" data-title="Crisi del deute llatinoamericà" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Lateinamerikanische_Schuldenkrise" title="Lateinamerikanische Schuldenkrise – German" lang="de" hreflang="de" data-title="Lateinamerikanische Schuldenkrise" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Crisis_de_la_deuda_latinoamericana" title="Crisis de la deuda latinoamericana – Spanish" lang="es" hreflang="es" data-title="Crisis de la deuda latinoamericana" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A8%D8%AD%D8%B1%D8%A7%D9%86_%D8%A8%D8%AF%D9%87%DB%8C_%D8%A2%D9%85%D8%B1%DB%8C%DA%A9%D8%A7%DB%8C_%D9%84%D8%A7%D8%AA%DB%8C%D9%86" title="بحران بدهی آمریکای لاتین – Persian" lang="fa" hreflang="fa" data-title="بحران بدهی آمریکای لاتین" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Crise_de_la_dette_des_pays_en_voie_de_d%C3%A9veloppement" title="Crise de la dette des pays en voie de développement – French" lang="fr" hreflang="fr" data-title="Crise de la dette des pays en voie de développement" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EB%9D%BC%ED%8B%B4%EC%95%84%EB%A9%94%EB%A6%AC%EC%B9%B4_%EB%B6%80%EC%B1%84_%EC%9C%84%EA%B8%B0" title="라틴아메리카 부채 위기 – Korean" lang="ko" hreflang="ko" data-title="라틴아메리카 부채 위기" data-language-autonym="한국어" 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sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-appearance.unpin">hide</button> </div> </div> </div> </nav> </div> </div> <div id="bodyContent" class="vector-body" aria-labelledby="firstHeading" data-mw-ve-target-container> <div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Financial crisis during the 1970s and 1980s</div> <p class="mw-empty-elt"> </p> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Crude_oil_prices_since_1861.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Crude_oil_prices_since_1861.png/250px-Crude_oil_prices_since_1861.png" decoding="async" width="250" height="164" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Crude_oil_prices_since_1861.png/375px-Crude_oil_prices_since_1861.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Crude_oil_prices_since_1861.png/500px-Crude_oil_prices_since_1861.png 2x" data-file-width="1764" data-file-height="1155" /></a><figcaption>Mexico Crude oil prices from 1861 to 2011</figcaption></figure> <p>The <b>Latin American debt crisis</b> (<a href="/wiki/Spanish_language" title="Spanish language">Spanish</a>: <i lang="es">Crisis de la deuda latinoamericana</i>; <a href="/wiki/Portuguese_language" title="Portuguese language">Portuguese</a>: <i lang="pt">Crise da dívida latino-americana</i>) was a <a href="/wiki/Financial_crisis" title="Financial crisis">financial crisis</a> that originated in the early 1980s (and for some countries starting in the 1970s), often known as <i><a href="/wiki/La_D%C3%A9cada_Perdida" class="mw-redirect" title="La Década Perdida">La Década Perdida</a></i> (The Lost Decade), when <a href="/wiki/Latin_America" title="Latin America">Latin American</a> countries reached a point where their <a href="/wiki/External_debt" title="External debt">foreign debt</a> exceeded their earning power, and they could not repay it. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Origins">Origins</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Latin_American_debt_crisis&action=edit&section=1" title="Edit section: Origins"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In the 1960s and 1970s, many <a href="/wiki/Latin_America" title="Latin America">Latin American</a> countries, notably <a href="/wiki/Brazil" title="Brazil">Brazil</a>, <a href="/wiki/Argentina" title="Argentina">Argentina</a>, and <a href="/wiki/Mexico" title="Mexico">Mexico</a>, borrowed huge sums of money from international <a href="/wiki/Creditor" title="Creditor">creditors</a> for <a href="/wiki/Industrialisation" title="Industrialisation">industrialization</a>, especially <a href="/wiki/Infrastructure" title="Infrastructure">infrastructure</a> programs.<sup id="cite_ref-:0_1-0" class="reference"><a href="#cite_note-:0-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> These countries had soaring economies at the time, so the creditors were happy to provide loans. Initially, developing countries typically garnered loans through public routes like the <a href="/wiki/World_Bank" title="World Bank">World Bank</a>. After 1973, private banks had an influx of funds from oil-rich countries which believed that sovereign debt was a safe investment.<sup id="cite_ref-Ferraro-1994_3-0" class="reference"><a href="#cite_note-Ferraro-1994-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> Mexico borrowed against future oil revenues with the debt valued in US dollars, so that when the <a href="/wiki/Price_of_oil" title="Price of oil">price of oil</a> collapsed, so did the Mexican economy. </p><p>Between 1975 and 1982, Latin American debt to <a href="/wiki/Commercial_bank" title="Commercial bank">commercial banks</a> increased at a cumulative annual rate of 20.4 percent. This heightened borrowing led Latin American countries to quadruple their external debt from US$75 billion in 1975 to more than $315 billion in 1983, or 50 percent of the region's <a href="/wiki/Gross_domestic_product" title="Gross domestic product">gross domestic product</a> (GDP). Debt service (interest payments and the repayment of principal) grew even faster as global interest rates surged, reaching $66 billion in 1982, up from $12 billion in 1975.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Latin_American_debt_crisis&action=edit&section=2" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>When the world economy went into <a href="/wiki/Recession" title="Recession">recession</a> in the 1970s and 1980s, and <a href="/wiki/Price_of_petroleum" class="mw-redirect" title="Price of petroleum">oil prices</a> skyrocketed, it created a breaking point for most countries in the region. <a href="/wiki/Debt_of_developing_countries" title="Debt of developing countries">Developing countries</a> found themselves in a desperate liquidity crunch. <a href="/wiki/Petroleum" title="Petroleum">Petroleum</a>-exporting countries, flush with cash after the oil price increases of 1973–1980, invested their money with international banks, which <a href="/wiki/Petrodollar_recycling" title="Petrodollar recycling">"recycled"</a> a major portion of the <a href="/wiki/Financial_capital" title="Financial capital">capital</a> as syndicated loans to Latin American governments.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:0_1-1" class="reference"><a href="#cite_note-:0-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> The sharp increase in oil prices caused many countries to search out more loans to cover the high prices, and even some oil-producing countries took on substantial debt for economic development, hoping that high prices would persist and allow them to repay their debt.<sup id="cite_ref-Ferraro-1994_3-1" class="reference"><a href="#cite_note-Ferraro-1994-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p> <figure typeof="mw:File/Thumb"><a href="/wiki/File:USD_to_Mexican_Peso_exchange_rate.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9b/USD_to_Mexican_Peso_exchange_rate.webp/325px-USD_to_Mexican_Peso_exchange_rate.webp.png" decoding="async" width="325" height="86" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9b/USD_to_Mexican_Peso_exchange_rate.webp/488px-USD_to_Mexican_Peso_exchange_rate.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9b/USD_to_Mexican_Peso_exchange_rate.webp/650px-USD_to_Mexican_Peso_exchange_rate.webp.png 2x" data-file-width="1585" data-file-height="421" /></a><figcaption><a href="/wiki/United_States_dollar" title="United States dollar">USD</a> / <a href="/wiki/Mexican_peso" title="Mexican peso">Mexican Peso</a> <a href="/wiki/Exchange_rate" title="Exchange rate">exchange rate</a></figcaption></figure> <figure typeof="mw:File/Thumb"><a href="/wiki/File:USD_to_Argentina_Currency_Exchange_Rates.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/7d/USD_to_Argentina_Currency_Exchange_Rates.webp/325px-USD_to_Argentina_Currency_Exchange_Rates.webp.png" decoding="async" width="325" height="91" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/7d/USD_to_Argentina_Currency_Exchange_Rates.webp/488px-USD_to_Argentina_Currency_Exchange_Rates.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/7d/USD_to_Argentina_Currency_Exchange_Rates.webp/650px-USD_to_Argentina_Currency_Exchange_Rates.webp.png 2x" data-file-width="1478" data-file-height="412" /></a><figcaption>USD / Argentina Currency Exchange Rates *From January 1970 to May 1983: <a href="/wiki/Argentine_peso_ley" title="Argentine peso ley">pesos ley 18188</a> *From June 1983 to May 1985: <a href="/wiki/Argentine_peso_argentino" class="mw-redirect" title="Argentine peso argentino">peso argentino</a> *From June 1985 to December 1991: <a href="/wiki/Argentine_austral" title="Argentine austral">australes</a> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Historical_exchange_rates_of_Argentine_currency" title="Historical exchange rates of Argentine currency">Historical exchange rates of Argentine currency</a></div> </figcaption></figure> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:US_Dollar_Index_DXY.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d4/US_Dollar_Index_DXY.webp/325px-US_Dollar_Index_DXY.webp.png" decoding="async" width="325" height="123" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d4/US_Dollar_Index_DXY.webp/488px-US_Dollar_Index_DXY.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d4/US_Dollar_Index_DXY.webp/650px-US_Dollar_Index_DXY.webp.png 2x" data-file-width="5566" data-file-height="2114" /></a><figcaption>The USD was the strongest it has ever been in 1985 making foreign debt more expensive to pay back,<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> triggering the <a href="/wiki/Plaza_Accord" title="Plaza Accord">Plaza Accord</a> <style data-mw-deduplicate="TemplateStyles:r981673959">.mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{}</style><div class="legend"><span class="legend-color mw-no-invert" style="border: 1px solid #0076BA;background-color:#00A2FF; color:black;"> </span> US Dollar Index (DXY)</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#F27200 solid 3px;"> </span> <a href="/wiki/United_States_dollar" title="United States dollar">USD</a>/<a href="/wiki/GBP" class="mw-redirect" title="GBP">GBP</a> <a href="/wiki/Exchange_rate" title="Exchange rate">exchange rate</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#017100 solid 3px;"> </span> USD/<a href="/wiki/Canadian_dollar" title="Canadian dollar">Canadian dollar</a> exchange rate</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#004D80 solid 3px;"> </span> <a href="/wiki/Euro" title="Euro">EUR</a>/USD (<a href="/wiki/Multiplicative_inverse" title="Multiplicative inverse">inverted</a>) exchange rate</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#BC002D solid 3px;"> </span> USD/<a href="/wiki/Japanese_yen" title="Japanese yen">JPY</a> exchange rate</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#FFCD00 solid 3px;"> </span> USD/<a href="/wiki/Swedish_krona" title="Swedish krona">SEK</a> exchange rate</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:black solid 3px;"> </span> USD/<a href="/wiki/Swiss_franc" title="Swiss franc">CHF</a> exchange rate</div> </figcaption></figure> <p>As interest rates increased in the United States of America and in <a href="/wiki/Europe" title="Europe">Europe</a> in 1979, debt payments also increased, making it harder for borrowing countries to pay back their debts.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> Deterioration in the exchange rate with the US dollar meant that Latin American governments ended up owing tremendous quantities of their national currencies, as well as losing purchasing power.<sup id="cite_ref-garciabernal_8-0" class="reference"><a href="#cite_note-garciabernal-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> The contraction of world trade in 1981 caused the prices of primary resources (Latin America's largest export) to fall.<sup id="cite_ref-garciabernal_8-1" class="reference"><a href="#cite_note-garciabernal-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p><p>While the dangerous accumulation of foreign debt occurred over a number of years, the debt crisis began when the international <a href="/wiki/Capital_market" title="Capital market">capital markets</a> became aware that Latin America would not be able to repay its loans.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> This occurred in August 1982 when Mexico's Finance Minister, <a href="/wiki/Jes%C3%BAs_Silva_Herzog_Flores" class="mw-redirect" title="Jesús Silva Herzog Flores">Jesús Silva-Herzog</a>, declared that Mexico would no longer be able to service its debt.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Mexico stated that it could not meet its payment due dates, and announced unilaterally a moratorium of 90 days; it also requested a renegotiation of payment periods and new loans in order to fulfill its prior obligations.<sup id="cite_ref-garciabernal_8-2" class="reference"><a href="#cite_note-garciabernal-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p><p>In the wake of Mexico's <a href="/wiki/Sovereign_default" title="Sovereign default">sovereign default</a>, most commercial banks reduced significantly or halted new lending to Latin America. As much of Latin America's loans were short-term, a crisis ensued when their refinancing was refused. Billions of dollars of loans, which previously would have been refinanced, were now due immediately. </p><p>The banks had to somehow restructure the debts to avoid financial panic; this usually involved new loans with very strict conditions, as well as the requirement that the debtor countries accept the intervention of the <a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a> (IMF).<sup id="cite_ref-garciabernal_8-3" class="reference"><a href="#cite_note-garciabernal-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> There were several stages of strategies to slow and end the crisis. The IMF moved to restructure the payments and reduce government spending in debtor countries.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> Later it and the World Bank encouraged open markets.<sup id="cite_ref-Felix-1990_12-0" class="reference"><a href="#cite_note-Felix-1990-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> Finally, the US and the <a href="/wiki/IMF" class="mw-redirect" title="IMF">IMF</a> pushed for debt relief, recognizing that countries could not fully repay the large sums they owed.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Effects">Effects</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Latin_American_debt_crisis&action=edit&section=3" title="Edit section: Effects"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Argentina_Inflation.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/93/Argentina_Inflation.webp/300px-Argentina_Inflation.webp.png" decoding="async" width="300" height="150" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/93/Argentina_Inflation.webp/450px-Argentina_Inflation.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/93/Argentina_Inflation.webp/600px-Argentina_Inflation.webp.png 2x" data-file-width="4474" data-file-height="2235" /></a><figcaption>Argentina Inflation <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-color mw-no-invert" style="border: 1px solid #F27200;background-color:#F69F68; color:black;"> </span> Year over Year inflation</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:red solid 3px;"> </span> M2 money supply increases Year over Year</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-color mw-no-invert" style="border: 1px solid #00A2FF;background-color:#00A2FF; color:black;"> </span> Month over Month inflation</div> </figcaption></figure> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Mexico_inflation_rate.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Mexico_inflation_rate.webp/300px-Mexico_inflation_rate.webp.png" decoding="async" width="300" height="71" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Mexico_inflation_rate.webp/450px-Mexico_inflation_rate.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Mexico_inflation_rate.webp/600px-Mexico_inflation_rate.webp.png 2x" data-file-width="1709" data-file-height="404" /></a><figcaption>Mexico inflation rate 1970-2022</figcaption></figure> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Brazil_Inflation_1981-1995.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/21/Brazil_Inflation_1981-1995.webp/300px-Brazil_Inflation_1981-1995.webp.png" decoding="async" width="300" height="93" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/21/Brazil_Inflation_1981-1995.webp/450px-Brazil_Inflation_1981-1995.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/21/Brazil_Inflation_1981-1995.webp/600px-Brazil_Inflation_1981-1995.webp.png 2x" data-file-width="1676" data-file-height="518" /></a><figcaption>Brazil Inflation 1981-1995</figcaption></figure> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Nicaragua_inflation_rate_1980-1993.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Nicaragua_inflation_rate_1980-1993.webp/300px-Nicaragua_inflation_rate_1980-1993.webp.png" decoding="async" width="300" height="83" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Nicaragua_inflation_rate_1980-1993.webp/450px-Nicaragua_inflation_rate_1980-1993.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Nicaragua_inflation_rate_1980-1993.webp/600px-Nicaragua_inflation_rate_1980-1993.webp.png 2x" data-file-width="1505" data-file-height="417" /></a><figcaption>Nicaragua inflation rate 1980-1993</figcaption></figure> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Panfleto_Tercera_Jornada_Protesta_Nacional.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c9/Panfleto_Tercera_Jornada_Protesta_Nacional.jpg/200px-Panfleto_Tercera_Jornada_Protesta_Nacional.jpg" decoding="async" width="200" height="127" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c9/Panfleto_Tercera_Jornada_Protesta_Nacional.jpg/300px-Panfleto_Tercera_Jornada_Protesta_Nacional.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c9/Panfleto_Tercera_Jornada_Protesta_Nacional.jpg/400px-Panfleto_Tercera_Jornada_Protesta_Nacional.jpg 2x" data-file-width="2912" data-file-height="1848" /></a><figcaption><a href="/wiki/Chile" title="Chile">Chilean</a> pamphlet calling for protest including a <a href="/wiki/Cacerolazo" title="Cacerolazo">cacerolazo</a> in 1983</figcaption></figure> <p>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 <a href="/wiki/Buying_power" class="mw-redirect" title="Buying power">buying power</a> of the middle classes.<sup id="cite_ref-garciabernal_8-4" class="reference"><a href="#cite_note-garciabernal-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> In fact, in the ten years after 1980, real wages in urban areas actually dropped between 20 and 40 percent.<sup id="cite_ref-Felix-1990_12-1" class="reference"><a href="#cite_note-Felix-1990-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> Additionally, investment that might have been used to address social issues and poverty was instead being used to pay the debt.<sup id="cite_ref-Ferraro-1994_3-2" class="reference"><a href="#cite_note-Ferraro-1994-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> Losses to bankers in the United States were catastrophic, perhaps more than the banking industry's entire collective profits since the nation's founding in the late 1700s.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p>In response to the crisis, most nations abandoned their <a href="/wiki/Import_substitution_industrialization" title="Import substitution industrialization">import substitution industrialization</a> (ISI) models of economy and adopted an <a href="/wiki/Export-oriented_industrialization" title="Export-oriented industrialization">export-oriented industrialization</a> strategy, usually the <a href="/wiki/Neoliberal" class="mw-redirect" title="Neoliberal">neoliberal</a> strategy encouraged by the IMF, although there were exceptions such as <a href="/wiki/Chile" title="Chile">Chile</a> and <a href="/wiki/Costa_Rica" title="Costa Rica">Costa Rica</a>, which adopted <a href="/wiki/Reformist" class="mw-redirect" title="Reformist">reformist</a> strategies. A massive process of capital outflow, particularly to the United States, served to <a href="/wiki/Depreciation_(currency)" class="mw-redirect" title="Depreciation (currency)">depreciate</a> the <a href="/wiki/Exchange_rate" title="Exchange rate">exchange rates</a>, thereby raising the <a href="/wiki/Real_interest_rate" title="Real interest rate">real interest rate</a>. Real GDP growth rate for the region was only 2.3 percent between 1980 and 1985, but in per capita terms Latin America experienced negative growth of almost 9 percent. Between 1982 and 1985, Latin America paid back US$108 billion.<sup id="cite_ref-garciabernal_8-5" class="reference"><a href="#cite_note-garciabernal-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p><p>Before the debt crisis, the creditor countries of the <a href="/wiki/Paris_Club" title="Paris Club">Paris Club</a> were unwilling to provide debt reduction or forgiveness, and would only consider rescheduling, refinancing, or restructuring debt.<sup id="cite_ref-:Chen_16-0" class="reference"><a href="#cite_note-:Chen-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 135">: 135 </span></sup> As a result of the Latin American debt crisis, the Paris Club began to gradually re-evaluate its unwillingness to provide debt forgiveness or reduction over the course of the 1980s.<sup id="cite_ref-:Chen_16-1" class="reference"><a href="#cite_note-:Chen-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Pages: 135–136">: 135–136 </span></sup> By the late 1980s, the Paris Club concluded that it was not possible to avoid a <a href="/wiki/Vicious_circle" title="Vicious circle">vicious cycle</a> of debt without a willingness on the Paris Club's part to <a href="/wiki/Write-off" title="Write-off">write-off</a> non-performing loans.<sup id="cite_ref-:Chen_16-2" class="reference"><a href="#cite_note-:Chen-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 136">: 136 </span></sup> It provided its first partial debt reduction in 1988.<sup id="cite_ref-:Chen_16-3" class="reference"><a href="#cite_note-:Chen-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 136">: 136 </span></sup> </p> <div class="mw-heading mw-heading2"><h2 id="International_Monetary_Fund">International Monetary Fund</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Latin_American_debt_crisis&action=edit&section=4" title="Edit section: International Monetary Fund"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Before the crisis, Latin American countries such as Brazil and Mexico borrowed money to enhance economic stability and reduce the poverty rate. However, as their inability to pay back their foreign debts became apparent, loans ceased, stopping the flow of resources previously available for the innovations and improvements of the previous few years. This rendered several half-finished projects useless, contributing to infrastructure problems in the affected countries.<sup id="cite_ref-Encyclopædia_Britannica_17-0" class="reference"><a href="#cite_note-Encyclopædia_Britannica-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p><p>During the international recession of the 1970s, many major countries attempted to slow down and stop inflation in their countries by raising the interest rates of the money that they loaned, causing Latin America's already enormous debt to increase further. Between the years of 1970 to 1980, Latin America's debt levels increased by more than one thousand percent.<sup id="cite_ref-Encyclopædia_Britannica_17-1" class="reference"><a href="#cite_note-Encyclopædia_Britannica-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p><p>The crisis caused per capita income to drop and also increased poverty as the gap between the wealthy and poor increased dramatically. Due to plummeting employment rates, children and young adults were forced into the drug trade, prostitution and terrorism.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> Low employment also worsened many problems like crime and generally reduced quality of life in the affected countries. Frantically trying to solve these problems, debtor countries felt constant pressure to repay their debts, increasing the difficulty of rebuilding ruined economies. </p><p>Latin American countries, unable to pay their debts, turned to the IMF (<a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a>), which provided money for loans and unpaid debts. In return, the IMF forced Latin America to make reforms that would favor free-market capitalism, further aggravating inequalities and poverty conditions.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="Seems to disapprove of financial liberalization in general, but doesn't specifically talk about Latin American countries (November 2020)">failed verification</span></a></i>]</sup> The IMF also forced Latin America to implement austerity plans and programs that lowered total spending in an effort to recover from the debt crisis. This reduction in government spending further deteriorated social fractures in the economy and halted industrialisation efforts. </p><p>Latin America's growth rate and living standards fell dramatically due to government austerity plans that restricted further spending, creating popular rage towards the IMF, a symbol of "outsider" power over Latin America.<sup id="cite_ref-Latin_American_debt_crisis_20-0" class="reference"><a href="#cite_note-Latin_American_debt_crisis-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> Government leaders and officials were ridiculed and some even discharged due to involvement and defending of the IMF. In the late 1980s, Brazilian officials planned a debt negotiation meeting where they decided to "never again sign agreements with the IMF".<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> The result of IMF intervention caused greater financial deepening (<a href="/wiki/Financialization" title="Financialization">Financialization</a>) and dependence on the developed world capital flows, as well as increased exposure to international volatility.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> The application of <a href="/wiki/Structural_adjustment_program" class="mw-redirect" title="Structural adjustment program">structural adjustment programs</a> entailed high <a href="/wiki/Social_cost" title="Social cost">social costs</a> in terms of rising <a href="/wiki/Unemployment" title="Unemployment">unemployment</a> and <a href="/wiki/Underemployment" title="Underemployment">underemployment</a>, falling real <a href="/wiki/Wages" class="mw-redirect" title="Wages">wages</a> and incomes, and increased poverty. </p> <div class="mw-heading mw-heading2"><h2 id="2015_levels_of_external_debt">2015 levels of external debt</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Latin_American_debt_crisis&action=edit&section=5" title="Edit section: 2015 levels of external debt"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The following is a list of <a href="/wiki/External_debt" title="External debt">external debt</a> for Latin America based on a 2015 report by <a href="/wiki/The_World_Factbook" title="The World Factbook">The World Factbook</a>.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Writing_better_articles#Stay_on_topic" title="Wikipedia:Writing better articles"><span title="The material near this tag may contain information that is not relevant to the article's main topic. 1980s levels would be more relevant for this article. (March 2017)">relevant?</span></a></i>]</sup> </p> <table class="wikitable"> <tbody><tr> <th>Rank</th> <th>Country – Entity</th> <th>External Debt<br /> (million <a href="/wiki/US$" class="mw-redirect" title="US$">US$</a>)</th> <th>Date of information </th></tr> <tr> <td>24</td> <td><a href="/wiki/Brazil" title="Brazil">Brazil</a></td> <td>535,400</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>26</td> <td><a href="/wiki/Mexico" title="Mexico">Mexico</a></td> <td>438,400</td> <td>31 Dec 2014 est </td></tr> <tr> <td>42</td> <td><a href="/wiki/Chile" title="Chile">Chile</a></td> <td>140,000</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>45</td> <td><a href="/wiki/Argentina" title="Argentina">Argentina</a></td> <td>115,700</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>51</td> <td><a href="/wiki/Colombia" title="Colombia">Colombia</a></td> <td>84,000</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>52</td> <td><a href="/wiki/Venezuela" title="Venezuela">Venezuela</a></td> <td>69,660</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>60</td> <td><a href="/wiki/Peru" title="Peru">Peru</a></td> <td>56,470</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>79</td> <td><a href="/wiki/Cuba" title="Cuba">Cuba</a></td> <td>25,230</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>83</td> <td><a href="/wiki/Ecuador" title="Ecuador">Ecuador</a></td> <td>21,740</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>84</td> <td><a href="/wiki/Dominican_Republic" title="Dominican Republic">Dominican Republic</a></td> <td>19,720</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>86</td> <td><a href="/wiki/Costa_Rica" title="Costa Rica">Costa Rica</a></td> <td>18,370</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>88</td> <td><a href="/wiki/Uruguay" title="Uruguay">Uruguay</a></td> <td>17,540</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>93</td> <td><a href="/wiki/Guatemala" title="Guatemala">Guatemala</a></td> <td>15,940</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>94</td> <td><a href="/wiki/Panama" title="Panama">Panama</a></td> <td>15,470</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>95</td> <td><a href="/wiki/El_Salvador" title="El Salvador">El Salvador</a></td> <td>15,460</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>103</td> <td><a href="/wiki/Nicaragua" title="Nicaragua">Nicaragua</a></td> <td>10,250</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>106</td> <td><a href="/wiki/Paraguay" title="Paraguay">Paraguay</a></td> <td>8,759</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>108</td> <td><a href="/wiki/Bolivia" title="Bolivia">Bolivia</a></td> <td>8,073</td> <td>31 Dec 2014 est. </td></tr> <tr> <td>117</td> <td><a href="/wiki/Honduras" title="Honduras">Honduras</a></td> <td>7,111</td> <td>31 Dec 2014 est. </td></tr> </tbody></table> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Latin_American_debt_crisis&action=edit&section=6" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col" style="column-width: 25em;"> <ul><li><a href="/wiki/1998%E2%80%932002_Argentine_great_depression" title="1998–2002 Argentine great depression">1998–2002 Argentine great depression</a></li> <li><a href="/wiki/Crisis_of_1982" title="Crisis of 1982">Chilean crisis of 1982</a></li> <li><a href="/wiki/Currency_crisis" title="Currency crisis">Currency crisis</a></li> <li><a href="/wiki/Economic_history_of_Latin_America" title="Economic history of Latin America">Economic history of Latin America</a></li> <li><a href="/wiki/Latin_American_economy" title="Latin American economy">Latin American economy</a></li> <li><a href="/wiki/List_of_Latin_American_economic_crises" title="List of Latin American economic crises">List of Latin American economic crises</a></li> <li><a href="/wiki/List_of_sovereign_debt_crises" title="List of sovereign debt crises">List of sovereign debt crises</a></li> <li><a href="/wiki/Mexican_peso_crisis" title="Mexican peso crisis">Mexican peso crisis</a></li> <li><a href="/wiki/Odious_debt" title="Odious debt">Odious debt</a></li> <li><a href="/wiki/South_American_economic_crisis_of_2002" title="South American economic crisis of 2002">South American economic crisis of 2002</a></li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Latin_American_debt_crisis&action=edit&section=7" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-:0-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-:0_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:0_1-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.worldbank.org/en/research/publication/waves-of-debt">"Global Waves of Debt: Causes and Consequences"</a>. <i>World Bank</i><span class="reference-accessdate">. Retrieved <span class="nowrap">13 May</span> 2022</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=World+Bank&rft.atitle=Global+Waves+of+Debt%3A+Causes+and+Consequences&rft_id=https%3A%2F%2Fwww.worldbank.org%2Fen%2Fresearch%2Fpublication%2Fwaves-of-debt&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDiaz-Alejandro1984" class="citation web cs1">Diaz-Alejandro, Carlos F. (1 June 1984). <a rel="nofollow" class="external text" href="https://www.brookings.edu/bpea-articles/latin-american-debt-i-dont-think-we-are-in-kansas-anymore/">"Latin American Debt: I Don't Think We are in Kansas Anymore"</a>. <i>Brookings</i><span class="reference-accessdate">. Retrieved <span class="nowrap">13 May</span> 2022</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Brookings&rft.atitle=Latin+American+Debt%3A+I+Don%27t+Think+We+are+in+Kansas+Anymore&rft.date=1984-06-01&rft.aulast=Diaz-Alejandro&rft.aufirst=Carlos+F.&rft_id=https%3A%2F%2Fwww.brookings.edu%2Fbpea-articles%2Flatin-american-debt-i-dont-think-we-are-in-kansas-anymore%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-Ferraro-1994-3"><span class="mw-cite-backlink">^ <a href="#cite_ref-Ferraro-1994_3-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Ferraro-1994_3-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Ferraro-1994_3-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFerraro1994" class="citation book cs1">Ferraro, Vincent (1994). <i>World Security: Challenges for a New Century</i>. New York: St. Martin's Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=World+Security%3A+Challenges+for+a+New+Century&rft.place=New+York&rft.pub=St.+Martin%27s+Press&rft.date=1994&rft.aulast=Ferraro&rft.aufirst=Vincent&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text">Institute of Latin American Studies, The Debt Crisis in Latin America, p. 69</span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGadanecz2004" class="citation journal cs1">Gadanecz, Blaise (6 December 2004). <a rel="nofollow" class="external text" href="https://www.bis.org/publ/qtrpdf/r_qt0412g.htm">"The syndicated loan market: structure, development and implications"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=The+syndicated+loan+market%3A+structure%2C+development+and+implications&rft.date=2004-12-06&rft.aulast=Gadanecz&rft.aufirst=Blaise&rft_id=https%3A%2F%2Fwww.bis.org%2Fpubl%2Fqtrpdf%2Fr_qt0412g.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span> <span class="cs1-visible-error citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_journal" title="Template:Cite journal">cite journal</a>}}</code>: </span><span class="cs1-visible-error citation-comment">Cite journal requires <code class="cs1-code">|journal=</code> (<a href="/wiki/Help:CS1_errors#missing_periodical" title="Help:CS1 errors">help</a>)</span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.realinstitutoelcano.org/en/commentaries/will-the-fed-strangle-latin-america-again/">"Will the FED Strangle Latin America Again?"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Will+the+FED+Strangle+Latin+America+Again%3F&rft_id=https%3A%2F%2Fwww.realinstitutoelcano.org%2Fen%2Fcommentaries%2Fwill-the-fed-strangle-latin-america-again%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text">Schaeffer, Robert. Understanding Globalization, p. 96</span> </li> <li id="cite_note-garciabernal-8"><span class="mw-cite-backlink">^ <a href="#cite_ref-garciabernal_8-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-garciabernal_8-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-garciabernal_8-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-garciabernal_8-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-garciabernal_8-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-garciabernal_8-5"><sup><i><b>f</b></i></sup></a></span> <span class="reference-text">García Bernal, Manuela Cristina (1991). "Iberoamérica: Evolución de una Economía Dependiente". In Luís Navarro García (Coord.), <i>Historia de las Américas</i>, vol. IV, pp. 565–619. 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Latin American Debt Crisis: Adjusting for the Past or Planning for the Future, p. 9</span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSachs1989" class="citation journal cs1">Sachs, J. D. 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"Latin America's Debt Crisis". <i>World Policy Journal</i>. <b>7</b> (4): 733–71.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=World+Policy+Journal&rft.atitle=Latin+America%27s+Debt+Crisis&rft.ssn=fall&rft.volume=7&rft.issue=4&rft.pages=733-71&rft.date=1990&rft.aulast=Felix&rft.aufirst=David&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDevlinRicardo_French-Davis1995" class="citation journal cs1">Devlin, Robert; Ricardo French-Davis (July–September 1995). "The great Latin American debt crisis: a decade of asymmetric adjustment". <i>Revista de Economía Política</i>. <b>15</b> (3).</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Revista+de+Econom%C3%ADa+Pol%C3%ADtica&rft.atitle=The+great+Latin+American+debt+crisis%3A+a+decade+of+asymmetric+adjustment&rft.volume=15&rft.issue=3&rft.date=1995-07%2F1995-09&rft.aulast=Devlin&rft.aufirst=Robert&rft.au=Ricardo+French-Davis&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKrugman2007" class="citation book cs1">Krugman, Paul (2007). <i>International Economics: Theory and Policy</i>. Pearson Education.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=International+Economics%3A+Theory+and+Policy&rft.pub=Pearson+Education&rft.date=2007&rft.aulast=Krugman&rft.aufirst=Paul&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFNassim_Nicholas_Taleb2007" class="citation book cs1">Nassim Nicholas Taleb (2007). <i>The Black Swan: The Impact of the Highly Improbable</i>. Random House.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Black+Swan%3A+The+Impact+of+the+Highly+Improbable&rft.pub=Random+House&rft.date=2007&rft.au=Nassim+Nicholas+Taleb&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-:Chen-16"><span class="mw-cite-backlink">^ <a href="#cite_ref-:Chen_16-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:Chen_16-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:Chen_16-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-:Chen_16-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFChen2024" class="citation book cs1">Chen, Muyang (2024). <i>The Latecomer's Rise: Policy Banks and the Globalization of China's Development Finance</i>. Ithaca and London: <a href="/wiki/Cornell_University_Press" title="Cornell University Press">Cornell University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781501775857" title="Special:BookSources/9781501775857"><bdi>9781501775857</bdi></a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/10.7591/jj.6230186">10.7591/jj.6230186</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Latecomer%27s+Rise%3A+Policy+Banks+and+the+Globalization+of+China%27s+Development+Finance&rft.place=Ithaca+and+London&rft.pub=Cornell+University+Press&rft.date=2024&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F10.7591%2Fjj.6230186%23id-name%3DJSTOR&rft.isbn=9781501775857&rft.aulast=Chen&rft.aufirst=Muyang&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-Encyclopædia_Britannica-17"><span class="mw-cite-backlink">^ <a href="#cite_ref-Encyclopædia_Britannica_17-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Encyclopædia_Britannica_17-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation encyclopaedia cs1"><a rel="nofollow" class="external text" href="http://www.school.eb.com/eb/article-60826?query=">"Encyclopædia Britannica Online School Edition"</a>. <i>Encyclopædia Britannica</i><span class="reference-accessdate">. Retrieved <span class="nowrap">21 May</span> 2012</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Encyclop%C3%A6dia+Britannica+Online+School+Edition&rft.btitle=Encyclop%C3%A6dia+Britannica&rft_id=http%3A%2F%2Fwww.school.eb.com%2Feb%2Farticle-60826%3Fquery%3D&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRuggiero" class="citation web cs1">Ruggiero, Gregory. <a rel="nofollow" class="external text" href="https://www.angelfire.com/nj/GregoryRuggiero/latinamericancrisis.html">"Latin American Debt Crisis: What Were Its Causes And Is It Over?"</a>. AngelFire<span class="reference-accessdate">. Retrieved <span class="nowrap">15 May</span> 2012</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Latin+American+Debt+Crisis%3A+What+Were+Its+Causes+And+Is+It+Over%3F&rft.pub=AngelFire&rft.aulast=Ruggiero&rft.aufirst=Gregory&rft_id=https%3A%2F%2Fwww.angelfire.com%2Fnj%2FGregoryRuggiero%2Flatinamericancrisis.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text">Ghosh, Jayati. The Economic and Social Effects of Financial Liberalization: A Primer for Developing Countries. Working Paper. United Nations, Department of Economics and Social Affairs, 2005.</span> </li> <li id="cite_note-Latin_American_debt_crisis-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-Latin_American_debt_crisis_20-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://worldhistory.abc-clio.com/Search/Display/309789?terms=latin+america+debt">"Latin American debt crisis"</a>. ABC-CLIO<span class="reference-accessdate">. Retrieved <span class="nowrap">22 May</span> 2012</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Latin+American+debt+crisis&rft.pub=ABC-CLIO&rft_id=http%3A%2F%2Fworldhistory.abc-clio.com%2FSearch%2FDisplay%2F309789%3Fterms%3Dlatin%2Bamerica%2Bdebt&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPastor1989" class="citation journal cs1">Pastor, Manuel Jr. (1989). "Latin America, the Debt Crisis, and the International Monetary Fund". <i>Latin American Perspectives</i>. <b>16</b> (1). JSTOR: 79–110. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1177%2F0094582X8901600105">10.1177/0094582X8901600105</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2633823">2633823</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:144458701">144458701</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Latin+American+Perspectives&rft.atitle=Latin+America%2C+the+Debt+Crisis%2C+and+the+International+Monetary+Fund&rft.volume=16&rft.issue=1&rft.pages=79-110&rft.date=1989&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A144458701%23id-name%3DS2CID&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2633823%23id-name%3DJSTOR&rft_id=info%3Adoi%2F10.1177%2F0094582X8901600105&rft.aulast=Pastor&rft.aufirst=Manuel+Jr.&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text">Palma, Gabriel. The Three Routes to Financial Crises: The Need for Capital Controls. SCEPA Working Paper. Schwartz Center for Economic Policy Analysis (SCEPA), The New School, 2000.</span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text">The World Factbook, 2015</span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Latin_American_debt_crisis&action=edit&section=8" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1184024115"><div class="div-col"> <ul><li>Signoriello, Vincent J. (1991), Commercial Loan Practices and Operations, Chapter 8 Servicing Foreign Debt, Latin American Debt Crisis, Performing a Vital Service, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-55520-134-0" title="Special:BookSources/978-1-55520-134-0">978-1-55520-134-0</a>.</li> <li>Signoriello, Vincent J. (1985, Jan–Feb) International Correspondent Banker Magazine, London, England, Performing a Vital Service, The Future for Debt Rescheduling, pp. 44–45.</li> <li>Sunkel, Osvald and <a href="/wiki/Stephany_Griffith-Jones" title="Stephany Griffith-Jones">Stephany Griffith-Jones</a> (1986), <i>Debt and Development Crises in Latin America: The End of an Illusion</i>, Oxford University Press.</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPastor,_Manuel1993" class="citation book cs1">Pastor, Manuel (1993). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=eYeNcQxLiawC&pg=PA289">"15: Managing the Latin American Debt Crisis: The International Monetary Fund and Beyond"</a>. In Gerald A. Epstein; Julie Graham; <a href="/wiki/Jessica_Gordon_Nembhard" title="Jessica Gordon Nembhard">Jessica Gordon Nembhard</a> (eds.). <i>Creating a new world economy: forces of change & plans for action</i>. Temple University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-56639-054-5" title="Special:BookSources/978-1-56639-054-5"><bdi>978-1-56639-054-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=15%3A+Managing+the+Latin+American+Debt+Crisis%3A+The+International+Monetary+Fund+and+Beyond&rft.btitle=Creating+a+new+world+economy%3A+forces+of+change+%26+plans+for+action&rft.pub=Temple+University+Press&rft.date=1993&rft.isbn=978-1-56639-054-5&rft.au=Pastor%2C+Manuel&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DeYeNcQxLiawC%26pg%3DPA289&rfr_id=info%3Asid%2Fen.wikipedia.org%3ALatin+American+debt+crisis" class="Z3988"></span></li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Latin_American_debt_crisis&action=edit&section=9" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="http://repository.library.georgetown.edu/handle/10822/552620">Latin American Debt Crisis: Effects on Mexico</a> from the <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160115205405/https://repository.library.georgetown.edu/handle/10822/552494">Dean Peter Krogh Foreign Affairs Digital Archives</a></li> <li><a rel="nofollow" class="external text" href="https://www.imf.org/en/home">International Monetary Fund</a></li></ul> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist 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style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:6.5em;padding-left:0.5em; padding-right:0.5em; font-weight:normal;">By period</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Spanish_colonization_of_the_Americas" title="Spanish colonization of the Americas">Spanish colonization</a></li> <li><a href="/wiki/Portuguese_colonization_of_the_Americas" title="Portuguese colonization of the Americas">Portuguese colonization</a></li> <li><a href="/wiki/French_colonization_of_the_Americas" title="French colonization of the Americas">French colonization</a></li> <li><a href="/wiki/Decolonization_of_the_Americas" title="Decolonization of the Americas">Decolonization</a></li> <li><a href="/wiki/Latin_American_integration" title="Latin American integration">Latin American integration</a></li> <li><a href="/wiki/Great_Depression_in_Latin_America" title="Great Depression in Latin America">Great Depression</a></li> <li><a href="/wiki/Latin_America_during_World_War_II" title="Latin America during World War II">World War II</a></li> <li><a class="mw-selflink selflink">Debt crisis</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:6.5em;padding-left:0.5em; padding-right:0.5em; font-weight:normal;">By topic</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Catholic_Church_in_Latin_America" title="Catholic Church in Latin America">Catholic</a></li> <li><a href="/wiki/Environmental_history_of_Latin_America" title="Environmental history of Latin America">Environmental</a></li> <li><a href="/wiki/History_of_the_Jews_in_Latin_America_and_the_Caribbean" title="History of the Jews in Latin America and the Caribbean">Jewish</a></li> <li><a href="/wiki/History_of_libraries_in_Latin_America" title="History of libraries in Latin America">Libraries</a></li> <li><a href="/wiki/History_of_Latin_American_literature" class="mw-redirect" title="History of Latin American literature">Literature</a></li> <li><a href="/wiki/Military_history_of_Latin_America" title="Military history of Latin America">Military</a></li> <li><a href="/wiki/Witchcraft_in_Latin_America" title="Witchcraft in Latin America">Brujería</a></li> <li><a href="/wiki/Slavery_in_Latin_America" title="Slavery in Latin America">Slavery</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:6.5em;padding-left:0.5em; padding-right:0.5em; font-weight:normal;">Foreign relations</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Australia%E2%80%93Latin_America_relations" title="Australia–Latin America relations">Australia</a></li> <li><a href="/wiki/Canada%E2%80%93Latin_America_relations" title="Canada–Latin America relations">Canada</a></li> <li><a href="/wiki/China%E2%80%93Latin_America_relations" class="mw-redirect" title="China–Latin America relations">China</a></li> <li><a href="/wiki/India%E2%80%93Latin_America_relations" title="India–Latin America relations">India</a></li> <li><a href="/wiki/Ireland%E2%80%93Latin_America_relations" title="Ireland–Latin America relations">Ireland</a></li> <li><a href="/wiki/Italy%E2%80%93Latin_America_Conference" title="Italy–Latin America Conference">Italy</a></li> <li><a href="/wiki/Japan%E2%80%93Latin_America_relations" title="Japan–Latin America relations">Japan</a></li> <li><a href="/wiki/Latin_America_and_the_League_of_Nations" title="Latin America and the League of Nations">League of Nations</a></li> <li><a href="/wiki/South_Korea%E2%80%93Latin_America_relations" title="South Korea–Latin America relations">South Korea</a></li> <li><a href="/wiki/Latin_America%E2%80%93United_Kingdom_relations" title="Latin America–United Kingdom relations">United Kingdom</a></li> <li><a href="/wiki/Latin_America%E2%80%93United_States_relations" title="Latin America–United States relations">United States</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Geography</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_regions_of_Latin_America" title="List of regions of Latin America">Regions</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Politics</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;padding-left:0.5em;padding-right:0.5em;font-weight:normal;">Governance</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Democracy_in_Latin_America_and_the_Caribbean" title="Democracy in Latin America and the Caribbean">Democracy</a></li> <li><a href="/wiki/Conservative_wave" title="Conservative wave">Conservative wave</a></li> <li><a href="/wiki/Latin_American_drug_legalization" title="Latin American drug legalization">Drug legalization</a></li> <li><a href="/wiki/Falangism_in_Latin_America" title="Falangism in Latin America">Falangism</a></li> <li><a href="/wiki/Latin_American_involvement_in_international_peacekeeping" title="Latin American involvement in international peacekeeping">International peacekeeping</a></li> <li><a href="/wiki/Liberalism_and_conservatism_in_Latin_America" title="Liberalism and conservatism in Latin America">Liberalism and conservatism</a></li> <li><a href="/wiki/Pink_tide" title="Pink tide">Pink tide</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Latin_American_economy" title="Latin American economy">Economy</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Agriculture_in_Latin_America" class="mw-redirect" title="Agriculture in Latin America">Agriculture</a> <ul><li><a href="/wiki/Agroecology_in_Latin_America" title="Agroecology in Latin America">Agroecology</a></li></ul></li> <li><a href="/wiki/Central_banks_and_currencies_of_the_Americas" title="Central banks and currencies of the Americas">Central banks and currencies</a></li> <li><a href="/wiki/List_of_stock_exchanges_in_the_Americas" title="List of stock exchanges in the Americas">Stock exchanges</a></li> <li><a href="/wiki/Tourism_in_Latin_America" class="mw-redirect" title="Tourism in Latin America">Tourism</a></li> <li><a href="/wiki/Water_supply_and_sanitation_in_Latin_America" title="Water supply and sanitation in Latin America">Water and sanitation</a></li> <li><a href="/wiki/Wealth_inequality_in_Latin_America" title="Wealth inequality in Latin America">Wealth inequality</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Society</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Crime_and_violence_in_Latin_America" title="Crime and violence in Latin America">Crime</a> <ul><li><a href="/wiki/Illegal_drug_trade_in_Latin_America" title="Illegal drug trade in Latin America">Illegal drug trade</a></li></ul></li> <li><a href="/wiki/Education_in_Latin_America" title="Education in Latin America">Education</a> <ul><li><a href="/wiki/Latin_American_studies" title="Latin American studies">Latin American studies</a></li></ul></li> <li><a href="/wiki/Etiquette_in_Latin_America" title="Etiquette in Latin America">Etiquette</a></li> <li><a href="/wiki/Feminism_in_Latin_America" title="Feminism in Latin America">Feminism</a></li> <li><a href="/wiki/HIV/AIDS_in_Latin_America" title="HIV/AIDS in Latin America">HIV/AIDS</a></li> <li><a href="/wiki/Race_and_ethnicity_in_Latin_America" title="Race and ethnicity in Latin America">Race and ethnicity</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;padding-left:0.5em;padding-right:0.5em;font-weight:normal;"><a href="/wiki/Culture_of_Latin_America" title="Culture of Latin America">Culture</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Latin_American_art" title="Latin American art">Art</a></li> <li><a href="/wiki/Latin_American_cinema" class="mw-redirect" title="Latin American cinema">Cinema</a> <ul><li><a href="/wiki/List_of_Latin_American_films" title="List of Latin American films">Films</a></li></ul></li> <li><a href="/wiki/Latin_American_cuisine" title="Latin American cuisine">Cuisine</a></li> <li><a href="/wiki/Latin_dance" title="Latin dance">Dance</a></li> <li><a href="/wiki/Latin_American_literature" title="Latin American literature">Literature</a></li> <li><a href="/wiki/Media_of_Latin_America" class="mw-redirect" title="Media of Latin America">Media</a></li> <li><a href="/wiki/Music_of_Latin_America" title="Music of Latin America">Music</a></li> <li><a href="/wiki/Religion_in_Latin_America" title="Religion in Latin America">Religion</a></li> <li><a href="/wiki/Television_in_Latin_America" title="Television in Latin America">Television</a> <ul><li><a href="/wiki/List_of_broadcasting_companies_in_Latin_America" title="List of broadcasting companies in Latin America">Companies</a></li> <li><a href="/wiki/Telenovela" title="Telenovela">Telenovela</a></li></ul></li> <li><a href="/wiki/Video_games_in_Latin_America" title="Video games in Latin America">Video games</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;padding-left:0.5em;padding-right:0.5em;font-weight:normal;"><a href="/wiki/Demographics_of_Latin_America" class="mw-redirect" title="Demographics of Latin America">Demographics</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_Latin_American_countries_by_population" title="List of Latin American countries by population">Countries by population</a> <ul><li><a href="/wiki/List_of_Latin_American_cities_by_population" title="List of Latin American cities by population">Cities</a></li></ul></li> <li><a href="/wiki/Ethnic_groups_in_Latin_America" title="Ethnic groups in Latin America">Ethnic groups</a></li> <li><a href="/wiki/Spanish_language_in_the_Americas" title="Spanish language in the Americas">Spanish language</a></li> <li><a href="/wiki/Latin_Americans" title="Latin Americans">Latin Americans</a> <ul><li><a href="/wiki/List_of_Latin_Americans" title="List of Latin Americans">List</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div> <ul><li><a href="/wiki/Category:Latin_America" title="Category:Latin America">Category</a></li> <li><a href="/wiki/Portal:Latin_America" title="Portal:Latin America">Portal</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Financial_crises" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Financial_crises" title="Template:Financial crises"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Financial_crises" title="Template talk:Financial crises"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Financial_crises" title="Special:EditPage/Template:Financial crises"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Financial_crises" style="font-size:114%;margin:0 4em"><a href="/wiki/Financial_crisis" title="Financial crisis">Financial crises</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="nowrap"><a href="/wiki/Bank_run" title="Bank run">Bank run</a></span></li> <li><span class="nowrap"><a href="/wiki/Commodity_price_shocks" title="Commodity price shocks">Commodity price shocks</a></span></li> <li><span class="nowrap"><a href="/wiki/Credit_crunch" title="Credit crunch">Credit crunch</a></span></li> <li><span class="nowrap"><a href="/wiki/Credit_cycle" title="Credit cycle">Credit cycle</a></span></li> <li><span class="nowrap"><a href="/wiki/Currency_crisis" title="Currency crisis">Currency crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Debt_crisis" title="Debt crisis">Debt crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Energy_crisis" title="Energy crisis">Energy crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Financial_contagion" title="Financial contagion">Financial contagion</a></span> <ul><li><span class="nowrap"><a href="/wiki/Social_contagion" title="Social contagion">Social contagion</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Flash_crash" title="Flash crash">Flash crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation" title="Hyperinflation">Hyperinflation</a></span></li> <li><span class="nowrap"><a href="/wiki/Liquidity_crisis" title="Liquidity crisis">Liquidity crisis</a></span> <ul><li><span class="nowrap"><a href="/wiki/Accounting_liquidity" title="Accounting liquidity">Accounting</a></span></li> <li><span class="nowrap"><a href="/wiki/Liquid_capital" title="Liquid capital">Capital</a></span></li> <li><span class="nowrap"><a href="/wiki/Funding_liquidity" title="Funding liquidity">Funding</a></span></li> <li><span class="nowrap"><a href="/wiki/Market_liquidity" title="Market liquidity">Market</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Minsky_moment" title="Minsky moment">Minsky moment</a></span></li> <li><span class="nowrap"><a href="/wiki/Social_crisis" title="Social crisis">Social crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Stock_market_crash" title="Stock market crash">Stock market crash</a></span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Pre-<a href="/wiki/Commercial_revolution" title="Commercial revolution">1000</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Financial_crisis_of_33" title="Financial crisis of 33">Financial crisis of 33 CE</a></span></li> <li><span class="nowrap"><a href="/wiki/Crisis_of_the_Third_Century" title="Crisis of the Third Century">Crisis of the Third Century</a> (235–284 CE)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Commercial_revolution" title="Commercial revolution">Commercial revolution</a><br />(1000–1760)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Great_Bullion_Famine" title="Great Bullion Famine">Great Bullion Famine</a> (c. 1400–c. 1500)</span></li> <li><span class="nowrap"><a href="/wiki/The_Great_Debasement" title="The Great Debasement">The Great Debasement</a> (1544–1551)</span></li> <li><span class="nowrap"><a href="/wiki/Financial_history_of_the_Dutch_Republic" title="Financial history of the Dutch Republic">Dutch Republic stock market crashes</a> (c. 1600–1760)</span></li> <li><span class="nowrap"><i><a href="/wiki/Kipper_und_Wipper" title="Kipper und Wipper">Kipper und Wipper</a></i> (1621–1623)</span></li> <li><span class="nowrap"><a href="/wiki/Tulip_mania" title="Tulip mania">Tulip mania crash</a> (1637)</span></li> <li><span class="nowrap"><a href="/wiki/South_Sea_Company" title="South Sea Company">South Sea bubble crash</a> (1720)</span></li> <li><span class="nowrap"><a href="/wiki/Mississippi_Company" title="Mississippi Company">Mississippi bubble crash</a> (1720)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">1st Industrial Revolution</a><br />(1760–1840)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Amsterdam_banking_crisis_of_1763" title="Amsterdam banking crisis of 1763">Amsterdam banking crisis of 1763</a></span></li> <li><span class="nowrap"><a href="/wiki/Bengal_Bubble_of_1769" title="Bengal Bubble of 1769">Bengal bubble crash</a> (1769–1784)</span></li> <li><span class="nowrap"><a href="/wiki/British_credit_crisis_of_1772%E2%80%931773" title="British credit crisis of 1772–1773">British credit crisis of 1772–1773</a></span></li> <li><span class="nowrap"><a href="/wiki/Financial_history_of_the_Dutch_Republic" title="Financial history of the Dutch Republic">Dutch Republic financial collapse</a> (c. 1780–1795)</span></li> <li><span class="nowrap"><a href="/wiki/Copper_Panic_of_1789" title="Copper Panic of 1789">Copper Panic of 1789</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1792" title="Panic of 1792">Panic of 1792</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1796%E2%80%931797" title="Panic of 1796–1797">Panic of 1796–1797</a></span></li> <li><span class="nowrap"><a href="/wiki/Danish_state_bankruptcy_of_1813" title="Danish state bankruptcy of 1813">Danish state bankruptcy of 1813</a></span></li> <li><span class="nowrap"><a href="/wiki/Commodity_price_shocks" title="Commodity price shocks">Post-Napoleonic Irish grain price and land use shocks</a> (1815–1816)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1819" title="Panic of 1819">Panic of 1819</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1825" title="Panic of 1825">Panic of 1825</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1837" title="Panic of 1837">Panic of 1837</a></span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">1840–1870</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/European_potato_failure" title="European potato failure">European potato failure</a> (1845–1856)</span> <ul><li><span class="nowrap"><a href="/wiki/Great_Famine_(Ireland)" title="Great Famine (Ireland)">Great Irish Famine</a></span></li> <li><span class="nowrap"><a href="/wiki/Highland_Potato_Famine" title="Highland Potato Famine">Highland Potato Famine</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1847" title="Panic of 1847">Panic of 1847</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1857" title="Panic of 1857">Panic of 1857</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1866" title="Panic of 1866">Panic of 1866</a></span></li> <li><span class="nowrap"><a href="/wiki/Black_Friday_(1869)" title="Black Friday (1869)">Black Friday</a> (1869)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">2nd Industrial Revolution</a><br />(1870–1914)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Panic_of_1873" title="Panic of 1873">Panic of 1873</a></span></li> <li><span class="nowrap"><a href="/wiki/Paris_Bourse_crash_of_1882" title="Paris Bourse crash of 1882">Paris Bourse crash of 1882</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1884" title="Panic of 1884">Panic of 1884</a></span></li> <li><span class="nowrap"><a href="/wiki/Arendal_crash" title="Arendal crash">Arendal crash</a> (1886)</span></li> <li><span class="nowrap"><a href="/wiki/Baring_crisis" title="Baring crisis">Baring crisis</a> (1890)</span></li> <li><span class="nowrap"><a href="/wiki/Encilhamento" title="Encilhamento">Encilhamento</a> (1890–1893)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1893" title="Panic of 1893">Panic of 1893</a></span></li> <li><span class="nowrap"><a href="/wiki/Australian_banking_crisis_of_1893" title="Australian banking crisis of 1893">Australian banking crisis of 1893</a></span></li> <li><span class="nowrap"><a href="/wiki/Black_Monday_(1894)" title="Black Monday (1894)">Black Monday</a> (1894)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1896" title="Panic of 1896">Panic of 1896</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1901" title="Panic of 1901">Panic of 1901</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1907" title="Panic of 1907">Panic of 1907</a></span></li> <li><span class="nowrap"><a href="/wiki/Shanghai_rubber_stock_market_crisis" title="Shanghai rubber stock market crisis">Shanghai rubber stock market crisis</a> (1910)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1910%E2%80%9311" title="Panic of 1910–11">Panic of 1910–11</a></span></li> <li><span class="nowrap"><a href="/wiki/Financial_crisis_of_1914" title="Financial crisis of 1914">Financial crisis of 1914</a></span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Interwar_period" title="Interwar period">Interwar period</a><br />(1918–1939)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hyperinflation_in_early_Soviet_Russia" title="Hyperinflation in early Soviet Russia">Early Soviet hyperinflation</a> (1917–1924)</span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_the_Weimar_Republic" title="Hyperinflation in the Weimar Republic">Weimar Republic hyperinflation</a> (1921–1923)</span></li> <li><span class="nowrap"><a href="/wiki/Sh%C5%8Dwa_financial_crisis" title="Shōwa financial crisis">Shōwa financial crisis</a> (1927)</span></li> <li><span class="nowrap"><a href="/wiki/Wall_Street_Crash_of_1929" class="mw-redirect" title="Wall Street Crash of 1929">Wall Street Crash of 1929</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1930" title="Panic of 1930">Panic of 1930</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/World_War_II" title="World War II">Wartime period</a><br />(1939–1945)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Greece" title="Hyperinflation in Greece">Greek hyperinflation</a> (1941–1946)</span></li> <li><span class="nowrap"><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">Post–WWII expansion</a><br />(1945–1973)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hungarian_peng%C5%91#Hyperinflation" title="Hungarian pengő">Hungarian pengő hyperinflation</a> (1945–1946)</span></li> <li><span class="nowrap"><a href="/wiki/Kennedy_Slide_of_1962" title="Kennedy Slide of 1962">Kennedy Slide of 1962</a></span></li> <li><span class="nowrap"><a href="/w/index.php?title=1963%E2%80%931965_Indonesian_hyperinflation&action=edit&redlink=1" class="new" title="1963–1965 Indonesian hyperinflation (page does not exist)">1963–1965 Indonesian hyperinflation</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Stagflation" title="Stagflation">Great Inflation</a><br />(1973–1982)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/1970s_energy_crisis" title="1970s energy crisis">1970s energy crisis</a> (1973–1980)</span></li> <li><span class="nowrap"><a href="/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1973%E2%80%931974_stock_market_crash" title="1973–1974 stock market crash">1973–1974 stock market crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Secondary_banking_crisis_of_1973%E2%80%931975" title="Secondary banking crisis of 1973–1975">Secondary banking crisis of 1973–1975</a></span></li> <li><span class="nowrap"><a href="/wiki/Steel_crisis" title="Steel crisis">Steel crisis</a> (1973–1982)</span></li> <li><span class="nowrap"><a class="mw-selflink selflink">Latin American debt crisis</a> (1975–1982)</span></li> <li><span class="nowrap"><a href="/wiki/1976_sterling_crisis" title="1976 sterling crisis">1976 British currency crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1979_oil_crisis" title="1979 oil crisis">1979 oil crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Brazil" title="Hyperinflation in Brazil">Brazilian hyperinflation</a> (1980–1982)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Moderation" title="Great Moderation">Great Moderation</a>/<br /><a href="/wiki/Great_Regression" class="mw-redirect" title="Great Regression">Great Regression</a><br />(1982–2007)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Brazil" title="Hyperinflation in Brazil">Brazilian hyperinflation</a> (1982–1994)</span></li> <li><span class="nowrap"><a href="/wiki/Souk_Al-Manakh_stock_market_crash" title="Souk Al-Manakh stock market crash">Souk Al-Manakh stock market crash</a> (1982)</span></li> <li><span class="nowrap"><a href="/wiki/Crisis_of_1982" title="Crisis of 1982">Chilean crisis of 1982</a></span></li> <li><span class="nowrap"><a href="/wiki/1983_Israel_bank_stock_crisis" title="1983 Israel bank stock crisis">1983 Israel bank stock crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Black_Saturday_(1983)" title="Black Saturday (1983)">Black Saturday (1983)</a></span></li> <li><span class="nowrap"><a href="/wiki/Savings_and_loan_crisis" title="Savings and loan crisis">Savings and loan crisis</a> (1986–1995)</span></li> <li><span class="nowrap"><a href="/wiki/Cameroonian_economic_crisis" title="Cameroonian economic crisis">Cameroonian economic crisis</a> (1987–2000s)</span></li> <li><span class="nowrap"><a href="/wiki/Black_Monday_(1987)" title="Black Monday (1987)">Black Monday (1987)</a></span></li> <li><span class="nowrap"><a href="/wiki/1988%E2%80%931992_Norwegian_banking_crisis" title="1988–1992 Norwegian banking crisis">1988–1992 Norwegian banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Japanese_asset_price_bubble" title="Japanese asset price bubble">Japanese asset price bubble crash</a> (1990–1992)</span></li> <li><span class="nowrap"><a href="/wiki/Rhode_Island_banking_crisis" title="Rhode Island banking crisis">Rhode Island banking crisis</a> (1990–1992)</span></li> <li><span class="nowrap"><a href="/wiki/1991_Indian_economic_crisis" title="1991 Indian economic crisis">1991 Indian economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Sweden_financial_crisis_1990%E2%80%931994" class="mw-redirect" title="Sweden financial crisis 1990–1994">1990s Swedish financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1990s_Finnish_banking_crisis" title="1990s Finnish banking crisis">1990s Finnish banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Armenian_energy_crisis_of_1990s" class="mw-redirect" title="Armenian energy crisis of 1990s">1990s Armenian energy crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Special_Period" title="Special Period">Cuban Special Period</a> (1991–2000)</span></li> <li><span class="nowrap"><a href="/wiki/Black_Wednesday" title="Black Wednesday">Black Wednesday (1992 Sterling crisis)</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_the_Federal_Republic_of_Yugoslavia" title="Hyperinflation in the Federal Republic of Yugoslavia">Yugoslav hyperinflation</a> (1992–1994)</span></li> <li><span class="nowrap"><a href="/wiki/1994_bond_market_crisis" title="1994 bond market crisis">1994 bond market crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Venezuelan_banking_crisis_of_1994" title="Venezuelan banking crisis of 1994">Venezuelan banking crisis of 1994</a></span></li> <li><span class="nowrap"><a href="/wiki/Mexican_peso_crisis" title="Mexican peso crisis">Mexican peso crisis</a> (1994–1996)</span></li> <li><span class="nowrap"><a href="/wiki/1997_Asian_financial_crisis" title="1997 Asian financial crisis">1997 Asian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/October_27,_1997,_mini-crash" title="October 27, 1997, mini-crash">October 1997 mini-crash</a></span></li> <li><span class="nowrap"><a href="/wiki/1998_Russian_financial_crisis" title="1998 Russian financial crisis">1998 Russian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1998%E2%80%931999_Ecuador_economic_crisis" title="1998–1999 Ecuador economic crisis">1998–1999 Ecuador economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1998%E2%80%932002_Argentine_great_depression" title="1998–2002 Argentine great depression">1998–2002 Argentine great depression</a></span></li> <li><span class="nowrap"><a href="/wiki/Samba_effect" title="Samba effect">Samba effect</a> (1999)</span></li> <li><span class="nowrap"><a href="/wiki/Dot-com_bubble" title="Dot-com bubble">Dot-com bubble crash</a> (2000–2004)</span></li> <li><span class="nowrap"><a href="/wiki/Economic_effects_of_the_September_11_attacks" title="Economic effects of the September 11 attacks">9/11 stock market crash</a> (2001)</span></li> <li><span class="nowrap"><a href="/wiki/2001_Turkish_economic_crisis" title="2001 Turkish economic crisis">2001 Turkish economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/South_American_economic_crisis_of_2002" title="South American economic crisis of 2002">South American economic crisis of 2002</a></span></li> <li><span class="nowrap"><a href="/wiki/Stock_market_downturn_of_2002" title="Stock market downturn of 2002">Stock market downturn of 2002</a></span></li> <li><span class="nowrap"><a href="/wiki/2002_Uruguay_banking_crisis" title="2002 Uruguay banking crisis">2002 Uruguay banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2003_Myanmar_banking_crisis" title="2003 Myanmar banking crisis">2003 Myanmar banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a> (2003–2008)</span></li> <li><span class="nowrap"><a href="/wiki/2004_Argentine_energy_crisis" title="2004 Argentine energy crisis">2004 Argentine energy crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_stock_bubble_of_2007" title="Chinese stock bubble of 2007">2007 Chinese stock bubble crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Zimbabwe" title="Hyperinflation in Zimbabwe">Zimbabwean hyperinflation</a> (2007–present)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a><br />(2007–2009)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/2007%E2%80%932008_financial_crisis" title="2007–2008 financial crisis">2007–2008 financial crisis</a></span> <ul><li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_September_2008" title="Global financial crisis in September 2008">September 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_October_2008" title="Global financial crisis in October 2008">October 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_November_2008" title="Global financial crisis in November 2008">November 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_December_2008" title="Global financial crisis in December 2008">December 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_2009" title="Global financial crisis in 2009">2009</a></span></li> <li><span class="nowrap"><a href="/wiki/Subprime_mortgage_crisis" title="Subprime mortgage crisis">Subprime mortgage crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2000s_United_States_housing_market_correction" title="2000s United States housing market correction">2000s U.S. housing market correction</a></span></li> <li><span class="nowrap"><a href="/wiki/United_States_bear_market_of_2007%E2%80%932009" title="United States bear market of 2007–2009">U.S. bear market of 2007–2009</a></span></li> <li><span class="nowrap"><a href="/wiki/2008_Latvian_financial_crisis" title="2008 Latvian financial crisis">2008 Latvian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932009_Belgian_financial_crisis" title="2008–2009 Belgian financial crisis">2008–2009 Belgian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Great_Recession_in_Russia" title="Great Recession in Russia">2008–2009 Russian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932009_Ukrainian_financial_crisis" title="2008–2009 Ukrainian financial crisis">2008–2009 Ukrainian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932011_Icelandic_financial_crisis" title="2008–2011 Icelandic financial crisis">2008–2011 Icelandic financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Post-2008_Irish_banking_crisis" title="Post-2008 Irish banking crisis">2008–2011 Irish banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932014_Spanish_financial_crisis" title="2008–2014 Spanish financial crisis">2008–2014 Spanish financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Blue_Monday_Crash_2009" title="Blue Monday Crash 2009">Blue Monday Crash 2009</a></span></li> <li><span class="nowrap"><a href="/wiki/European_debt_crisis" title="European debt crisis">European debt crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Greek_government-debt_crisis" title="Greek government-debt crisis">Greek government-debt crisis</a></span></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Information_Age" title="Information Age">Information Age</a><br />(2009–present)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Dubai_World" title="Dubai World">2009 Dubai debt standstill</a></span></li> <li><span class="nowrap"><a href="/wiki/Venezuelan_banking_crisis_of_2009%E2%80%932010" title="Venezuelan banking crisis of 2009–2010">Venezuelan banking crisis of 2009–2010</a></span></li> <li><span class="nowrap"><a href="/wiki/2010%E2%80%932014_Portuguese_financial_crisis" title="2010–2014 Portuguese financial crisis">2010–2014 Portuguese financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Energy_crisis_in_Venezuela" title="Energy crisis in Venezuela">Energy crisis in Venezuela</a> (2010–present)</span></li> <li><span class="nowrap"><a href="/wiki/Economy_of_Syria" title="Economy of Syria">Syrian economic crisis</a> (2011–present)</span></li> <li><span class="nowrap"><a href="/wiki/August_2011_stock_markets_fall" title="August 2011 stock markets fall">August 2011 stock markets fall</a></span></li> <li><span class="nowrap"><a href="/wiki/2011_Bangladesh_share_market_scam" title="2011 Bangladesh share market scam">2011 Bangladesh share market scam</a></span></li> <li><span class="nowrap"><a href="/wiki/2012%E2%80%932013_Cypriot_financial_crisis" title="2012–2013 Cypriot financial crisis">2012–2013 Cypriot financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_Banking_Liquidity_Crisis_of_2013" title="Chinese Banking Liquidity Crisis of 2013">2013 Chinese banking liquidity crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2013%E2%80%93present_economic_crisis_in_Venezuela" title="2013–present economic crisis in Venezuela">Venezuela economic crisis</a> (2013–present)</span></li> <li><span class="nowrap"><a href="/wiki/2014_Brazilian_economic_crisis" title="2014 Brazilian economic crisis">2014–2016 Brazilian economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Puerto_Rican_government-debt_crisis" title="Puerto Rican government-debt crisis">Puerto Rican government-debt crisis</a> (2014–2022)</span></li> <li><span class="nowrap"><a href="/wiki/Russian_financial_crisis_(2014%E2%80%932016)" title="Russian financial crisis (2014–2016)">Russian financial crisis (2014–2016)</a></span></li> <li><span class="nowrap"><a href="/wiki/2015_Nepal_blockade" title="2015 Nepal blockade">2015 Nepal blockade</a></span></li> <li><span class="nowrap"><a href="/wiki/2015%E2%80%932016_Chinese_stock_market_turbulence" title="2015–2016 Chinese stock market turbulence">2015–2016 Chinese stock market turbulence</a></span></li> <li><span class="nowrap"><a href="/wiki/2015%E2%80%932016_stock_market_selloff" title="2015–2016 stock market selloff">2015–2016 stock market selloff</a></span></li> <li><span class="nowrap"><a href="/wiki/Economic_effects_of_Brexit" title="Economic effects of Brexit">Brexit stock market crash</a> (2016)</span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Venezuela" title="Hyperinflation in Venezuela">Venezuelan hyperinflation</a> (2016–2022)</span></li> <li><span class="nowrap"><a href="/wiki/2017_Sri_Lankan_fuel_crisis" title="2017 Sri Lankan fuel crisis">2017 Sri Lankan fuel crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Ghana_banking_crisis" title="Ghana banking crisis">Ghana banking crisis</a> (2017–2018)</span></li> <li><span class="nowrap"><a href="/wiki/Turkish_economic_crisis_(2018%E2%80%93current)" title="Turkish economic crisis (2018–current)">Turkish economic crisis</a> (2018–present)</span></li> <li><span class="nowrap"><a href="/wiki/Lebanese_liquidity_crisis" title="Lebanese liquidity crisis">Lebanese liquidity crisis</a> (2019–present)</span></li> <li><span class="nowrap"><a href="/wiki/Sri_Lankan_economic_crisis_(2019%E2%80%93present)" title="Sri Lankan economic crisis (2019–present)">Sri Lankan economic crisis</a> (2019–present)</span></li> <li><span class="nowrap"><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic" title="Economic impact of the COVID-19 pandemic">COVID-19 pandemic</a></span> <ul><li><span class="nowrap"><a href="/wiki/Financial_market_impact_of_the_COVID-19_pandemic" title="Financial market impact of the COVID-19 pandemic">Financial market impact</a></span></li> <li><span class="nowrap"><a href="/wiki/2020_stock_market_crash" title="2020 stock market crash">2020 stock market crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Early_2020s_recession" class="mw-redirect" title="Early 2020s recession">Recession</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Chinese_property_sector_crisis_(2020%E2%80%93present)" title="Chinese property sector crisis (2020–present)">Chinese property sector crisis</a> (2020–present)</span></li> <li><span class="nowrap"><a href="/wiki/2021%E2%80%932023_inflation_surge" title="2021–2023 inflation surge">2021–2023 inflation surge</a></span></li> <li><span class="nowrap"><a href="/wiki/Economic_impact_of_the_Russian_invasion_of_Ukraine" title="Economic impact of the Russian invasion of Ukraine">2022 Russian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Pakistani_economic_crisis_(2022%E2%80%93present)" title="Pakistani economic crisis (2022–present)">Pakistani economic crisis</a> (2022–present)</span></li> <li><span class="nowrap"><a href="/wiki/2022_stock_market_decline" title="2022 stock market decline">2022 stock market decline</a></span></li> <li><span class="nowrap"><a href="/wiki/German_economic_crisis_(2022%E2%80%93present)" title="German economic crisis (2022–present)">2022–2024 German economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2023_United_States_banking_crisis" title="2023 United States banking crisis">2023 United States banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2023%E2%80%932024_Egyptian_financial_crisis" title="2023–2024 Egyptian financial crisis">2023–2024 Egyptian financial crisis</a></span></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="nowrap"><a href="/wiki/List_of_banking_crises" title="List of banking crises">List of banking crises</a></span></li> <li><span class="nowrap"><a href="/wiki/List_of_economic_crises" title="List of economic crises">List of economic crises</a></span></li> <li><span class="nowrap"><a href="/wiki/List_of_sovereign_debt_crises" title="List of sovereign debt crises">List of sovereign debt crises</a></span></li> <li><span class="nowrap"><a href="/wiki/List_of_stock_market_crashes_and_bear_markets" title="List of stock market crashes and bear markets">List of stock market crashes and bear markets</a></span></li></ul> </div></td></tr></tbody></table></div>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Retrieved from "<a dir="ltr" href="https://en.wikipedia.org/w/index.php?title=Latin_American_debt_crisis&oldid=1253311399">https://en.wikipedia.org/w/index.php?title=Latin_American_debt_crisis&oldid=1253311399</a>"</div></div> <div id="catlinks" class="catlinks" data-mw="interface"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><a href="/wiki/Help:Category" 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