Tequila Hangover: Latin America’s Debt Crisis

The year, 1994, was supposed to crown a process of successful economic restructuring in Latin America and usher in a new era for the region. Scarcely a decade ago, debt, inflation and social malaise engulfed the region. In recent years, gutted public sectors and rapidly opening national markets have reshaped the face of Latin American capitalism, thereby creating models of transformation for the rest of the post-Cold War Third World.