text: markedanewphaseofseeking long-term solutions tothedebtservice problem. Owingtothepossibility ofmorerescheduling arrangements inthefuture, however, theexactprofile oftheirprincipal repayments andofdebtservice payments is verydifficult topredict. IfthereschedUling arrangement forArgentina, which wasconcluded inprinciple inDecember 1984,becomes effective in1985,the near-term debtservice profile oftheseeconomies wouldimprove somewhat. Thereis somedangerthatdebtservice payments ofthisgroupofcountries willbe especially heavyin1987and1988astheirprincipal repayments areexpected to peakduringthisperiodwhenthegraceperiodoffourtofiveyears.ofthe rescheduling arrangements concluded earlierisover•.According totherecentWOrld Bank'sprojections oftheirdehtservice schedules (asatMarch1985),however, the problem appears lessserious asfarasthecovered overall debtsareconcerned (table21).Asrescheduled debtsaddtotheirfutureoutstanding totaldebt, interest payments (ingeneral notreschedUled) willcontinue toriseandremain dominant intheiroverall current accountdeficit. Thebaseline scenario projects thenetannualinterest payments ontheirdebtsas$56.6billion ontheaverage during 1985-1990 compared with$35.7billion peryearduring1981-1984. within thisperiodtheirinterest payments areexpected toincrease overtimeinstepwith theirincreasing totalindebtedness aslongasinterest ratesremainhigh.Al\olrlg hSltsh Pagc t3 oo ofjcr r o o!E 'uEora rd c ar.,g ao'.r O.l {,g .l (l!D tD c!.r' o, llt lt tl - io8O Orl 'r x OOo '+r c 0(| '< €.r ': toe o o a.tOc OC>r.9 "13 "9 otB Ea o tOt C6tr6q' bei8i ir.rE :E'E .AE O a e ES olo EE T,"3 .JC EOOrC O -r at,4 El ., o q qo € | o oo ()6 r'l 5! ,.8ooor? siEE^ -'Pdot r 0 , .t a tl,6C ElOt'lo Qlu ' a tt t|tiE !tsEu3 '8i"g-Bt cl: 3 6'al r ..1 l,8l* rr?ir arl aoq,s teBF 4 r{o F o .{ .1 r3'cr!!49|x fr. Coo o..1 (t.r a, o r.ot !. o o ooa, 0 r , aoo r, o E o oin r, <t .. I E Oc:E E r, {, tt >r rl, 4{rD.Qgl|rE94Et € ru o i. q f;' E cd6 e -r o o ..rro. .,i e o a, (, rl .Jo,. o ! d .r ,{ ,r, a r., {ro ., o o n > o d o50rt.,a>i.ir'i9.O..l-. rJ I O r. ., Lr.oruroarr.a,..r o, q a Q a ! a \drc-c6.Jatr,.tca dt i Q r{ d o8S8 E E.l lo a)<ot\.{Fl<t an ?< O .'4
analysis: The text appears to be discussing the debt service problem of several economies, specifically mentioning Argentina and its rescheduling arrangement. The text also mentions the World Bank's projections of debt service schedules and the expected increase in interest payments over time. Given the focus on debt, economies, and financial projections, it seems likely that the text is related to economic issues.