Third World Sovereign Debt Renegotiation 1980–85 and After: Reflections on Procedures and Paradigms

The crisis in Africa in recent years is overwhelmingly the product of external shocks... Without the heavy post-1978 external blows or, given those blows, with adequate international buffers against them, the majority of African economies would not be sliding backward as they are now doing... G.K. Helleiner, 1984