Dealing with Debt: International Financial Negotiations and Adjustment Bargaining

The global debt burden has proven to be a bad bargain for developed and developing countries alike. This selection of case studies illustrates the complexity of international financial negotiations and the difficulty of reaching international agreements satisfactory to both creditors and debtors. The key aspects of debtor country bargaining power are explored-size, strategic significance, internal cohesion, and political stability-as we read of creditors flexing their financial muscles to p...