YOU ARE HERE: LAT HomeCollectionsThird World Countries

Third World Countries

July 23, 1989 | MARTIN MAYER, MARTIN MAYER, author of "The Bankers" and "Markets," is working on a book about savings and loans.
When the debts of the less developed countries rose to the top of the world agenda in the summer of 1982, the United States argued that if these nations would adopt sensible economic policies such as our own, they would be able to pay what they owed. Oh, they might need a few more loans as part of their morning after, but if they got up earlier and worked harder, sincerely worshiped at the shrine of The Market and ungrudgingly accepted its assigned penance of austerity, all would soon be well.
September 21, 1988
Who is this madman? We already have areas which look like Third World countries. Could we not have time to adjust to the influx that we already have? It is stretching credulity to believe that our Founding Fathers had such an influx in mind, and I do believe that those who would cloak us with a layer of guilt concerning the Constitution, or religion, have little regard for the reality of what has happened to our society. Until those countries with the many refugees learn to govern themselves, become concerned enough with their overpopulation to take drastic steps to teach their people, there will always be refugees.
January 19, 1988 | From Times Wire Services
Many people in debtor countries will slide deeper into poverty because of increasing Third World debt, which is due to reach a record $1.245 trillion by the end of the year, the World Bank predicted Monday. In one of its gloomiest assessments since the debt crisis began in 1982, the World Bank said growing economic problems in industrial countries could worsen conditions in the Third World. A top official of the bank said social and political disruption could result.
December 7, 1987 | Associated Press
The International Monetary Fund said Sunday that U.S. banks and the lending institutions of other industrial nations gave $3 billion more to Third World countries than they got back during the first half of 1987. The IMF, releasing figures for the first six months of the year, said "involuntary lending" to Mexico accounted for all of the difference. In those six months banks paid out $3.5 billion in "concerted" loans to Mexico, which already owed over $100 billion.
July 7, 1987
There is a question which troubles me deeply and I would like to direct it at this nation's financial giants. I am a middle-class, middle-aged wage earner who still believes in the Amerian dream. One of the things that was supposed to be possible was the ownership of a home. This has become the impossible dream for many in this land of opportunity. My question is why have so many American financial institutions loaned all these billions of dollars to Third World countries? If they have all that money why can't they invest it in the lives and aspirations of the people who put the money in their vaults to begin with?
September 11, 1986
I feel it is very important for the United States to donate its total share of the $12 billion needed for replenishment of the International Development Assn. IDA is the division of the World Bank that loans money to Third World countries, truly the poorest of the poor. Once again we see politics getting in the way of helping those who are less fortunate than those of us in this country. Why not assure that the United States will have its full veto rights over Japan by committing to the maximum contribution?
April 9, 1986
A group of debtor nations, claiming that the plunge in oil prices is devastating petroleum-exporting Third World economies, proposed a fund to help reimburse those nations for oil-related losses. The fund should be set up by the world's industrial nations and administered by the International Monetary Fund, the developing nations said in a statement issued at a joint meeting of policy-makers for the 149 nations that make up the IMF and the World Bank.
February 9, 1986 | CHARLES WOLF JR., Charles Wolf Jr. is director of the Rand Corp. research program in international economics and dean of Rand's graduate school.
Winston Churchill's aphorism about democracy ("the worst form of government except for all the others") also applies to the Third World. The problem in the Third World is not whether democracy would be better or worse, but how to get it launched in a manner that provides a fair test of Churchill's proposition.
Los Angeles Times Articles