rescheduling arrangements concluded ln 1982 and 1983 $i11 entl in 1987 antl 1988r there (nay be a huop in the amorEization, $hich adds adtlitlonal uncertslotles about the capabtlities of non-oil exporting developing countrlee to Reet their tlebt service obligatlons. Multi-year packages, Iike the recent reschedullng arrangement conbluded for Mexico that postpones the repaynent of, the alebt due beyond I990r Hould reduce the possibillty of thts nen dlfficulty but lt is not clear just hot, oany non-oil exPorting deveLoPlng countries YiIl be able to oake 6uch an arrangement in their future debt renegotiations. . The Practice of apProaching the debt problem on the basls of inttividual countries ls likely to oontlnue. ortlog to the need to keep large borrowers froo tlefault, substantial involuntary bank lendtng has been unavoidable in the recent rescheduling arrangeoents and it HiII take a $htle for normaL and spontaneous bank lenating to take over r'lthout lnvolving the official enti tie8. 115. Along nith the reduction of variable rate short-tern coo[ercial bank alebt since late 1982, interest payments are lightened aomeshatr but the bur'len of interesE payments is still high and erpected to rise with ttte gronth of external alebt as long as interest rates remain hlgh. Intereat rates on bank debtE ltill depend slgnlflcantlt on the development in the United States financial oarket aa Uoitett States banks continue to play a dominrnt role ln lnternatlonal bankinq both as lenders and borrowera. As a signlficant portion (elightly le53 than half) of the total long-term debt antt alebt service are denoolnated in Unlted States alollersi changes in the dollar exchange rate will also have an loPortant i{$pact on the debt burden. 116. Other alternative prtvate financlal aourceE' such aE lssuea of bonds anal foreign direct investment, have partlally offset the decllne in bank lenaling in the past.but their potential contribution as future flnanclal sources aPPears lioited.
**Analysis**
The text discusses the debt burden of non-oil exporting developing countries, the rescheduling of debt arrangements, and the impact of interest rates and exchange rates on their debt obligations. It also mentions the potential for private financial sources to offset the decline in bank lending. These topics suggest a focus on economic issues, particularly international finance and development.

**Category**
International trade, Economic development