By the 1980s, most Latin American countries found themselves in the middle of a debt crisis. Who owned most of their debts?

Question

Quizplus · Accepted Answer

By the 1980s, the debt crisis in Latin America was largely due to loans provided by foreign banks. These banks had lent large sums of money to Latin American countries in the 1970s, and when interest rates rose in the early 1980s, these countries struggled to repay their debts.

By the 1980s, Most Latin American Countries Found Themselves in the Middle