For the past ten years or so the economy of Ghana has been under severe strains. The domestic economic scene has been characterised by stagnation of production, by falling real per capita income, by ever growing inflationary pressures and by rising level of unemployment. On the external front,...

At the end of 1982 South Korea had foreign debts of US $ 38 billion, the third highest total for a developing country after those of Mexico and Brazil. In contrast to these countries, however, South Korea has avoided debt crises so far. In view of the 20 or more rescheduling operations carried...