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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Aug 03, 1985
Page
37
Ecuadorean delegate Carlos Emanuel argued that internal Latin American policies largely caused the debt crisis. He cited fixed rates, overvalued currencies, cutbacks in agriculture, high military spending, and borrowing from private banks abroad as key factors.
Fidel Castro campaigns to persuade Latin American nations to renounce about 360 billion dollars of foreign debt as a path to reduce U S influence. He argues resources should fund development rather than debt payments while U S officials privately doubt success.
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