How one big battle was won.

Describes how the debt crisis of the 1980s was overcome and comments on the new worries that have emerged in the 1990s. The Brady plan of 1989; The current Mexican crisis; James Baker's plan of 1985; Important lessons learned from the debt crisis; Implications of the transformation of the capital market; Development of an International Bondholders Insurance Corporation proposed by the author; His book, `International Debt Re-examined.'