Answer:
(i)
From the mid-1970s, the international financial system also changed in
important ways.
(ii) Earlier, developing countries could
turn to international institutions for loans and development assistance.
(iii) But now, they were forced to borrow
from western commercial banks and private lending institutions.
(iv) This led to periodic debt crisis in the developing
world, and lower incomes and increased poverty, especially in Africa and Latin
America.
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