The 1970s debt crisis for many developing nations was caused in part by
A)increasing energy prices.
B)IMF structural adjustment loans.
C)the collapse of the Soviet Union.
D)soaring rates of economic growth.

Question

Quizplus · Accepted Answer

The 1970s debt crisis was caused by increasing energy prices, which affected many developing nations that relied heavily on importing oil. This led to a sharp increase in the cost of their imports and a decline in their export revenues, making it difficult for them to service their foreign debts.

The 1970s Debt Crisis for Many Developing Nations Was Caused