The influence of external debt on Latin American metal and mineral exports

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Payment obligation on external debt often creates pressure on export expansion to earn the hard currency required to make debt service payment. This paper finds that debt service obligation is an important determinant of export supply of metals and minerals for some highly indebted Latin American countries. Export supply of metals and minerals from these countries increased during the last two decades, to meet rising debt service payments in the face of deteriorating export prices. This may have implication for metal and mineral consumption in these countries and therefore, for supply and prices in the world market. © 1993.

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