Brazil shaping up
The most indebted nation, Brazil, with SNZI37 billion owed to foreign lenders, is trying to reorder its economy to conform with I.M.F. guide-
lines so that the tap again will be opened to allow a fresh flow of funds. The second most indebted nation, Mexico, which owes about SNZI24 billion, appears to be doing much better, and I.M.F. and other officials have pointed to it as an example of how an international effort can succeed if a nation has the political will to take the necessary actions. The situation is also serious in Argentina with the country threatened with technical default on its $6O billion in foreign debt, although basically it has the potential for a strong recovery since it is a food exporter and selfsufficient in energy, the experts say. A number of other Latin American States, including Venezuela, are in serious economic trouble, and will require time to recover, according to many experts.
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Press, 27 September 1983, Page 21
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158Brazil shaping up Press, 27 September 1983, Page 21
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