International records / Foreign Relations of the United States

179. Minutes of an Interagency Group–International Economic Policy on International Debt Meeting

hed a watershed in the evolution of the debt problem with all the major debtors having made progress toward adjustment or at least having committed themselves to the IMF programs that would have that effect if implemented properly. The exception was Nigeria. The problem with major debtors would now be one of whether or not they could remain in compliance with the programs. The outlook for continued growth in the industrial countries, the level of interest rates and inflation was also favorable. Nevertheless, progress was uneven and we might have problems in the future with medium-size debtors …