Baker Plan

E400619

The Baker Plan was a 1985 international debt strategy proposed by U.S. Treasury Secretary James Baker to address the sovereign debt crisis of developing countries through new lending combined with economic reforms.

All labels observed (1)

Label Occurrences
Baker Plan canonical 2

How this entity was disambiguated

Statements (47)

Predicate Object
instanceOf international debt strategy
sovereign debt restructuring initiative
aimsTo avoid outright debt reduction
maintain financial system stability
prevent systemic banking crisis
announcedAt World Bank Group Annual Meetings
surface form: IMF-World Bank Annual Meetings in Seoul
announcedIn October 1985
appliesTo Latin American debtor countries
developing countries
highly indebted middle-income countries
sovereign borrowers with IMF programs
characterizedAs growth-oriented debt strategy
coordinatedBy United States Department of the Treasury
surface form: U.S. Treasury Department
countryOfOrigin United States of America
surface form: United States
criticizedFor insufficient debt relief
overreliance on new lending
placing adjustment burden on debtor countries
focusesOn commercial bank debt
sovereign external debt
follows initial ad hoc debt reschedulings of early 1980s
hasComponent increased lending by commercial banks
increased lending by multilateral institutions
medium-term adjustment programs
hasPurpose address sovereign debt crisis
promote economic growth in debtor countries
restore creditworthiness of debtor countries
historicalContext 1980s Third World debt crisis
historicalPeriod Latin American debt crisis
inception 1985
involves International Monetary Fund
World Bank
commercial banks
debtor governments
language English
namedAfter James Baker
surface form: James A. Baker III
precedes Brady Plan
proposedBy James Baker
surface form: James A. Baker III

James Baker
surface form: U.S. Treasury Secretary James Baker
replacedBy Brady Plan
requires fiscal discipline
macroeconomic stabilization measures
market-oriented reforms
structural economic reforms
trade liberalization
usesMethod conditionality on economic reforms
new lending
policy-based lending

How these facts were elicited

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.