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By the 1980s, however, many countries that pursued this strategy ended up with huge foreign indebtedness, causing a dramatic decrease in economic growth.
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One probable source is concern about America's huge ongoing foreign indebtedness.
In the mid-1980s principandand interest on a relatively large foreign indebtedness was rescheduled, but indebtedness remains a significant problem.
He continued to maintain good relations with foreign nations and managed to eliminate all foreign indebtedness.
For years, elite opinion dismissed the buildup of foreign indebtedness as a trivial issue.
They generate huge foreign sales, too.
Brazil's foreign indebtedness doubled to 50% of GDP from 1997 to 2003; Argentina's tripled over the same period.
The dramatic price increases for oil and modern technology created a large external trade deficit, which led to increasing foreign indebtedness.
This would increase the current-account deficit.If the dollar hangs on to its gains, then the end-2005 forures for America's net foreign indebtedness could prove truly shocking.
[A1.] Fed Officials Play Down Debt Risk Alan Greenspan and another top Federal Reserve official argued that the United States' record level of foreign indebtedness is unlikely to pose a major risk to the nation.
Our net foreign indebtedness is now more than 25percentt of gross domestic product and at the current pace will reach 50percentt in four or five years.
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