Ottoman Empire - Ottoman Public Debt Administration

Time: 1881

Place: Ottoman Empire

Details: By 1881, the Ottoman Empire agreed to have its debt controlled by an institution known as the Ottoman Public Debt Administration, a council of European men with a presidency alternating between France and Britain. The body controlled swaths of the Ottoman economy and used its position to ensure that European capital continued to penetrate the empire, often to the detriment of local Ottoman interests.

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