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The country defaulted on $95bn in foreign loans in 2001, and had since gone through three presidents.
The 800 million gold marks in foreign loans had by 1927 enabled German industrial production to regain its 1913 prewar high.
But Argentina continued to borrow heavily abroad, and investors feared that it could not repay some $20 billion in foreign loans due over the next year.
This was achieved through wholesale privatisation, a complete opening to the international economy, fixing the exchange rate artificially low, and pumping in foreign loans during the petro-dollar glut of the late 1970s.
Cotton's significance was underlined early this year when the International Monetary Fund revealed that the Tajik government had secretly diverted its hard currency reserves to use as collateral for $240 million in foreign loans for the cotton trading companies.
Mr Dung has presided over a years-long crackdown on political dissidents who challenge his authority or call for democracy; an embarrassing 2010 default by a state-owned shipbuilder on $600m in foreign loans; and a recent slowdown in economic growth that has rattled investor confidence.
Similar(50)
All languages take in foreign loan words.
Portuguese uses the same consonant as English does, except K, W and Y, which are only used in foreign loan words.
Turkey's economy minister announced a package of austerity measures today aimed at winning $10 billion to $12 billion in new foreign loans and restoring confidence in the country's battered economy.
7 Turkey Push to Revive Economy Turkey's economy minister unveiled a package of austerity measures aimed at winning $10 billion to $12 billion in new foreign loans.
And failure to live up to past commitments to international aid agencies, including the World Bank, has denied Indonesia roughly $1.7 billion in new foreign loans.
More suggestions(16)
in foreign investments
in foreign dollars
in foreign businesses
in foreign students
in external loans
in foreign operations
in foreign subsidies
in foreign securities
in foreign corporations
in foreign companies
in overseas loans
in foreign films
in foreign earnings
in foreign subsidiaries
in such loans
in predatory loans
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com