Which of the following best explains why Latin American countries experienced a debt crisis in the 1980s?(1 point)
Responses
Some Latin American countries were nationalizing particular industries, and they did not make money as a result of this.
Some Latin American countries were nationalizing particular industries, and they did not make money as a result of this.
Because Latin American countries had relied on foreign loans and did not have strong domestic financial markets, they struggled to pay those loans when profits fell.
Because Latin American countries had relied on foreign loans and did not have strong domestic financial markets, they struggled to pay those loans when profits fell.
The World Bank and the IMF cut off Latin American businesses from international loans because they wanted them to create strong domestic financial markets.
The World Bank and the IMF cut off Latin American businesses from international loans because they wanted them to create strong domestic financial markets.
Mexico could not pay off its loans and needed help to renegotiate the terms of its loans.