The president of Brazil blames the industrial nations for perpetuating the poverty of the developing nations. In West Berlin, the finance ministers of 22 developed or developing countries demanded action to help Third World countries with their 1.2 trillion dollar debt. Brazil, the world's most indebted nation with 121 billion in foreign loans, has been among the most vociferous lobbyists for debt restructuring and write-offs. There is an imbalance in trade. But there are also other factors that have contributed to this crisis. The seven key industrialized nations have approved a plan to aid the world's poorest countries.
The president of Brazil blames the industrial nations for perpetuating the poverty of the developing nations. In West Berlin, the finance ministers of 22 developed or developing countries demanded action to help Third World countries with their 1.2 trillion dollar debt. Brazil, the world's most indebted nation with 121 billion in foreign loans, has been among the most vociferous lobbyists for debt restructuring and write-offs. There is an imbalance in trade. One group is selling its wares cheaply and buying those of others dearly. The seven key industrialized nations have approved a plan to aid the world's poorest countries.