THE BURDEN OF DEBT

A revolt against price increases in Venezuela recently resulted in 256 deaths and in thousands being injured. The increases in prices were apparently related to the country’s efforts to pay some of its external debt.

Said Michel Camdessus of the International Monetary Fund: “What happened in Venezuela last week was the explosion of just one of many time bombs that could be set off unless solutions for the external debt crisis are not soon found. The debtor countries are exhausted.”