The Latin American Financial Crisis, 1980
The Latin American Financial Crisis
The Latin American Lost Decade began after years of heavy borrowing from international and private lenders to fund the democratization of the region. Beginning in 1979, those lenders simultaneously raised interest rates on countries across Latin America, resulting in a massive debt crisis, instantly destroying economies and threatening national security.
The Latin American heads of states have assembled this committee in order to salvage their economies and create an action plan to rebuild Latin America, laying the foundation for stable government systems and newly-flourishing economies.