Problem

Deterioration in external financial position of countries

Other Names:
Deterioration in external payments position of countries
Nature:
Much of the deterioration in the payments position has been due to the exceptionally severe and long recession and the rise of interest rates to unprecedented levels. Such deterioration not only reduces the availability of external savings and drains off domestically generated savings, in a number of countries it also adversely affects domestic savings performance.
Problem Type:
D: Detailed problems
Date of last update
06.03.1997 – 00:00 CET