Word: ldcs
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Dates: during 1980-1989
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...short, helping LDCS head off disaster-much like a sophisticated human rights policy -is not just a humanitarian ideal but a matter of reality. Unfortunately, foreign aid is now the object of widespread disillusionment both at home and abroad...
...these nations are asking for massive transfers of goods and services and seemingly want to readjust the north-south economic imbalance overnight. They also need to face up to the problem of paying off the debt they already owe the West; the more than $400 billion borrowed by LDCs in the past decade, if defaulted, would threaten the very institutions that can provide the funds for further development...
Over the next five years OPEC's petro powers will drain as much as $570 billion from the world's oil-thirsty economies. Hardest hit will be the less developed countries. With their credit lines stretched to the snapping point, the LDCs may need $70 billion more than international banks are like ly to provide. Result: a potentially smoldering powder keg of political unrest in the Third World...
...bankers and political leaders, since he has long been optimistic about the ability of the world financial system to handle the recycling of petrodollars. During the 1974 oil crisis, most experts forecast that OPEC coffers would be bulging with about $1.5 trillion by 1979 and that loans to LDCs would be insufficient to cover their deficits. De Vries, however, was among a minority of economists who correctly argued that OPEC would rapidly increase its imports and who predicted that international banks could handle the remaining petrodollar surplus. Now that optimist De Vries has turned pessimist, world moneymen are becoming very...
...year 2000, at current and projected birth rates, world population will have risen to 6.35 billion people from 4 billion in 1975. Most of this growth will be in the poorer, less developed countries (LDCs), mostly in their urban slums and shantytowns. Mexico City, already crowded with more than 10 million people, will swell to more than 31 million people; Calcutta will teem with nearly 20 million, and more than 15 million will jam Bombay and Cairo, Jakarta and Seoul. However, in a chilling Malthusian hedge, the study adds: "In the years ahead, lack of food for the urban poor...