Les économies socialistes européennes aujourd'hui: crises, adaptations, blocages

Asselain, Jean-Charles

doi:10.2307/3501602

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Tensions and Divisions In The Bloc1

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2020

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“…79 Moscow did provide some help, but remained in a situation significantly different from its allies-despite being forced to import food, for the time being, it maintained a relatively low level of foreign debt and the rising price on oil products replenished its coffers. 80 Its foreign debt nevertheless rose over the course of the 1970s. Estimates vary on the exact level of Soviet foreign debt, with the US Directorate of Intelligence putting it at 1.8 billion dollars in 1970 and 17.8 in 1980.…”

Section: Tensions and Divisions In The Blocmentioning

confidence: 99%

The Communist World of Public Debt (1917–1991): The Failure of a Countermodel?

Forestier-Peyrat

Ironside

2020

A World of Public Debts

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This chapter looks at the construction of a communist community of public debt in the twentieth century. Despite emerging as some of public debt’s most vehement critics in the early years of that century, communist governments made relatively conventional use of public debt to fund economic initiatives, foster bonds within the socialist bloc, and gain political influence. As these regimes’ economies stagnated, they borrowed heavily from capitalist lenders and ran into economic troubles in the 1980s, but they did not repudiate their debt, as the Bolsheviks had in 1918. Instead, they accepted technical solutions to their economic woes, which, in turn, helped to erode their already tenuous popular legitimacy in Eastern Europe.

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Section: Tensions and Divisions In The Blocmentioning

confidence: 99%