The ________ called for large-scale reduction of the debt owed by poorer nations,the exchange of old loans for new low-interest loans,and the making of debt instruments that would be tradable on world financial markets.
A) Brady Plan
B) Louvre Accord
C) Bretton Woods Agreement
D) Smithsonian Agreement

Question

Quizplus · Accepted Answer

The Brady Plan, also known as the "Debt Reduction Strategy for the Highly Indebted Poor Countries," was initiated in 1989 by the U.S. Treasury Secretary Nicholas Brady. The plan called for a reduction of the debt owed by poorer nations, the exchange of old loans for new low-interest loans, and the making of debt instruments that could be tradable on world financial markets.

The ________ Called for Large-Scale Reduction of the Debt Owed