During the 1970s, virtually every financial market development damaged the commercial banks' domestic business opportunities and enhanced Latin America's access to external financial resources. The 1980s have been entirely different. Virtually every evolutionary trend and regulatory development...

This paper points out the current situation of debtors and creditors and evaluates some of the difficult issues concerning the international management of Latin America's payment problems. It is concluded that, in the absence of new credits, debtors in the region will opt for unilateral limits...