Beginning in About 1990, Lending to and Investing in Developing

Beginning in about 1990, lending to and investing in developing countries began to increase. One explanation for this is that:

A) interest rates in the United States began to rise.
B) the governments in the developing countries began to encourage import-substituting manufacturing.
C) changes in IMF policies toward exchange rate risk.
D) deregulation and privatization in the developing countries opened up profitable new investment opportunities.