Latin American debt crisis

The Latin American Debt crisis is a situation where lots of countries in Latin America owe money to other countries or businesses from around the world. This happened because the governments borrowed money from many different places in order to pay for things like roads, schools and other things. Now, the governments are having a hard time paying back the money they owe, which means they can't buy things like food and medicine for their people. To help, some people say the governments should ask for help from other countries or organizations. This could mean the other countries would give them money or offer to help pay back the loans slowly. They could also renegotiate the terms of the loan so it's more affordable for the countries of Latin America.