Chris C. Carvounis provides the background, the theory and definition, and the analytical tools necessary to understand the scenarios now being played out in the various LDCs. After presenting general issues related to LDC debt from the functionally distinct positions of borrowers, lenders, and negotiators, Carvounis examines in detail the cases of five specific debtor nations--Turkey, Mexico, Brazil, Argentina, and Poland. For each country, a chronology provides background information and a commentary analyzes the key debtor-related matters. The commentaries discuss national economic development strategy, the orchestration of internal and external economies, the role of the central government as investor and regulator, domestic and foreign political factors pertinent to the country's external debts, and other significant factors.