This paper examines the Latin American debt crisis from the perspective of three major participants: private and official creditors, the debtors themselves and the US government. Wide differences in the views of these participants on the origins and current status of the crisis help to explain its intractability. The intention of the paper is to offer an account of the broader economic and political context from which the three perspectives arise and to explore areas of agreement that might become the basis of a possible resolution of the problem.
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