As a result, the developing economies suffered from inflation, stagnating
or deteriorating output, trade deficits, government budget deficits, etc.
Moreover, these economies were severely indebted, and were not able to repay their foreign
loans. As a result, the political-economic strategies known as SAPs were pushed
upon developing countries seeking to refinance their loans (Wiegersma 1997: 259).
As a result, the developing economies suffered from inflation, stagnatingor deteriorating output, trade deficits, government budget deficits, etc. Moreover, these economies were severely indebted, and were not able to repay their foreignloans. As a result, the political-economic strategies known as SAPs were pushedupon developing countries seeking to refinance their loans (Wiegersma 1997: 259).
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