The chief economic problem in Latin America in the 1980s was

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Latin America in the 1980s was marked by an excessive debt burden owed to foreign banks, also known as the "lost decade." The debt crisis arose from the combination of increased borrowing, falling commodity prices, and rising international interest rates. This led to severe economic instability, currency devaluations, and inflation. The debt problem hindered Latin American countries' ability to invest and diversify their economies, contributing to persistent poverty and social inequality.

The Chief Economic Problem in Latin America in the 1980s