Baker Initiative

E400620

The Baker Initiative was a mid-1980s U.S.-led strategy, associated with Treasury Secretary James Baker, aimed at resolving the developing world debt crisis through new lending and economic reforms rather than outright debt forgiveness.

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Label Occurrences
Baker Initiative canonical 1

How this entity was disambiguated

Statements (45)

Predicate Object
instanceOf economic policy initiative ⓘ
international debt strategy ⓘ
aimedAt restoring voluntary lending by commercial banks ⓘ
announcedInYear 1985 ⓘ
appliesTo developing countries ⓘ
heavily indebted countries ⓘ
approach market-oriented economic reforms ⓘ
new lending rather than debt forgiveness ⓘ
structural adjustment policies ⓘ
associatedWithOffice United States Secretary of the Treasury ⓘ
characterizedAs orthodox, market-oriented response to debt crisis ⓘ
countryOfOrigin United States ⓘ
criticizedFor insufficient debt relief ⓘ
limited success in restoring growth ⓘ
placing adjustment burden on debtor countries ⓘ
designedBy U.S. Treasury Department ⓘ
focusesOn debt rescheduling ⓘ
fiscal discipline ⓘ
macroeconomic stabilization ⓘ
policy conditionality ⓘ
privatization of state enterprises ⓘ
trade liberalization ⓘ
hasKeyProponent James A. Baker III ⓘ
linked to: James Baker
historicalContext 1980s Third World debt crisis ⓘ
post-1982 Latin American debt crisis ⓘ
influencedBy concerns about global banking system stability ⓘ
involves International Monetary Fund ⓘ
World Bank ⓘ
commercial bank lending ⓘ
multilateral development banks ⓘ
policyGoal resolve developing world debt crisis ⓘ
restore growth in debtor countries ⓘ
stabilize international financial system ⓘ
policyInstrument conditional financial support ⓘ
debt rescheduling agreements ⓘ
multilateral lending packages ⓘ
rejectedPolicy large-scale debt write-offs ⓘ
outright debt forgiveness as primary tool ⓘ
requires IMF-supported adjustment programs ⓘ
debtor country economic reform programs ⓘ
succeededBy Brady Plan ⓘ
supportedBy Group of Seven industrialized countries ⓘ
linked to: G7
targetRegion Latin America ⓘ
other heavily indebted middle-income countries ⓘ
timePeriod mid-1980s ⓘ

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Referenced by (1)

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