This paper points out the current situation of debtors and creditors and evaluates some of the difficult issues concerning the international management of Latin America's payment problems. It is concluded that, in the absence of new credits, debtors in the region will opt for unilateral limits...

This paper explores the impact of international financial integration on credit markets in Latin America, using a cross-country dataset covering 17 countries between 1996 and 2008. It is found that financial integration amplifies the impact of international financial shocks on aggregate credit...