In the late 1970s and early 1980s,Latin American countries were vulnerable to

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During the late 1970s and early 1980s, Latin American countries experienced a debt crisis, which led to rising debt service ratios. This was due to a combination of factors such as high borrowing rates, unfavorable terms of trade, and external shocks. As a result, many countries struggled to meet their debt obligations and were forced to implement austerity measures, which had a negative impact on their economies.

In the Late 1970s and Early 1980s,Latin American Countries Were