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CEPAL Review

Cepal Review is the leading journal for the study of economic and social development issues in Latin America and the Caribbean. Edited by the Economic Commission for Latin America, each issue focuses on economic trends, industrialization, income distribution, technological development and monetary systems, as well as the implementation of economic reform and transfer of technology. Written in English and Spanish (Revista de la Cepal), each tri-annual issue offers approximately 12 studies and essays undertaken by authoritative experts or gathered from conference proceedings.

English Spanish

The real cost of the external debt for the creditor and for the debtor

In this article the author analyses the real cost of external debt servicing and reaches the conclusion that the cost in question is different for the creditor and for the debtor, nie former will normally take into account his own country’s financial market as a basis for evaluating the alternative use of his resources. In contrast, the debtor will have to take into consideration the real resources that he needs to use in his own country in order to generate foreign exchange for paying the debt.

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