Abstract
The Brady plan didn’t eliminate problem of the foreign debt burden of developing countries, but this debt relief helped them to restore investment and growth and to become a reliable debtor, that resulted in increase of capital flows to all parties – debtor-countries and creditor-countries. The external debt burden should be further reduced – especially the debt of the low-income countries. It’s necessary not only for the sake of the debtors, but also for the sake of the creditors, who have an important long-run stake in allowing the developingcountries to surmount the current crisis and to avoid them in the future.
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