The proposal, adopted in 1989, for restructuring and reducing developing country debt to commercial banks was the:

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The Brady Plan, named after U.S. Treasury Secretary Nicholas Brady, was adopted in 1989 to restructure and reduce the debt of developing countries to commercial banks. It aimed to make debt more manageable for these countries by converting outstanding debt into new bonds with longer maturities and sometimes reduced principal.

The Proposal, Adopted in 1989, for Restructuring and Reducing Developing