Explain drawing on Lee Buchheit's comments how the Latin American debt crisis of the 1980s was different from that facing Emerging Markets today. Why is the current debt rescheduling framework flawed and why does debt sustainability analysis fail to capture many risks facing EMEs? What is likely to happen if oil prices surge again and how will it affect EMEs?

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Lee Buchheits comments highlight key distinctions between the Latin American debt crisis of the 1980... View the full answer