The politics of New Zealand's foreign debt

Abstract

New Zealand's current foreign debt is, by all accounts, at a dangerously high level. It has been increasing since the onset of recession in the mid 1970s. Today, New Zealanders are being constantly reminded of the amount of money which "we" owe to foreign banks. By examining the historical forces and the political relationships which have shaped the current condition of foreign indebtedness in New Zealand this thesis attempts to break from statements concerning the evil and the size of the debt. It seeks to explain the politics of New Zealand's foreign debt.