Rethinking Strategy for Global Debt Crisis Ashwini Deshpande 80s were a lost decade for most of the indebted developing countries, thanks to the debt crisis. Economic its handling by the creditors contributed to social and political de stabilisation in the third world. Yet the it banks and the creditor nations insist on shirking all responsibility for the consequences of the debt crisis, and the World Bank have essentially acted as the custodians of these two players in the debt game and thus strategy has served the banks well but has completely failed to free the LDC debtors from the predicament they are trapped.
