Abstract
The importance of external debt emerged as a critical component of Yugoslavia’s crisis in the late 1970s and early 1980s.The article comprehensively examines the underlying factors contributing to the accumulation of significant debt, analyzes the government’s reactive measures to address the financial situation, and looks at the state-level strategic initiatives undertaken by the Socialist Federal Republic of Yugoslavia (SFRY) in 1980. These attempts sought to protect external liquidity by obtaining extra loans from prominent Western nations, engaging with the International Monetary Fund (IMF), and negotiating for financial aid from Kuwait.
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