The article reviews the positions and policies of Middle Eastern and North African states towards the external ‘debt crisis’ of the 1980s within the context of contemporary debates and negotiations held at regional and international levels. MENA countries shared many commonalities with their developing partners across the postcolonial world and participated actively in the debates within multilateral organizations, such as the United Nations Conference on Trade and Development (UNCTAD). Because standard borrowing in the MENA was public, bilateral and closely tied to politics, the article argues for the relevance of regional factors in shaping the course of the debt crisis in the MENA region, and challenges the common visions for which Western creditors could manage external debt as an effective ‘lever’ for introducing neoliberal policies: oil endowment, armed conflicts and alliances shaped the timing and results of the debt crisis in the MENA. The research is based on an extensive review of regional and international literature coupled with documents and proceedings from the UN organizations.

The 1980s ‘debt crisis’ in the Middle East and North Africa: framing regional dynamics within the international stage at UNCTAD

Trentin M
Primo
2022

Abstract

The article reviews the positions and policies of Middle Eastern and North African states towards the external ‘debt crisis’ of the 1980s within the context of contemporary debates and negotiations held at regional and international levels. MENA countries shared many commonalities with their developing partners across the postcolonial world and participated actively in the debates within multilateral organizations, such as the United Nations Conference on Trade and Development (UNCTAD). Because standard borrowing in the MENA was public, bilateral and closely tied to politics, the article argues for the relevance of regional factors in shaping the course of the debt crisis in the MENA region, and challenges the common visions for which Western creditors could manage external debt as an effective ‘lever’ for introducing neoliberal policies: oil endowment, armed conflicts and alliances shaped the timing and results of the debt crisis in the MENA. The research is based on an extensive review of regional and international literature coupled with documents and proceedings from the UN organizations.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11585/890090
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