Many LDCs took out large loans in the 1970s and 1980s because they expected their economies to improve in the coming years.

Question

Quizplus · Accepted Answer

Many LDCs did take out large loans in the 1970s and 1980s with the expectation of improving their economies. However, due to various factors including economic mismanagement and global economic downturns, many countries were unable to repay these loans and ended up with significant debt burdens.

Many LDCs Took Out Large Loans in the 1970s and 1980s