Baker: Debt Problem Can’t Be Regulated
DAKAR, Senegal — U.S. Treasury Secretary James A. Baker III said Monday that Third World debt must be treated as a economic rather than a political problem and that each country’s case should be handled individually.
“The debt question cannot be regulated in a global manner,” Baker told reporters after meeting with President Abdou Diouf. “Debt structures are not the same from one country to another.”
Baker said a solution to the debt problem would be found with international cooperation.
The Treasury secretary will leave today for the Ivory Coast, where he was expected to make a major address on the Third World debt problem to the board of the African Development Bank.
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