The great Latin America debt crisis: a decade of asymmetric adjustment

Devlin, Robert B.; FFRENCH-DAVIS, RICARDO

doi:10.1590/0101-31571995-0838

Cited by 2 publications

(1 citation statement)

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“…In response of Mexico's default, private banks decreased or even stopped new lending to Latin American countries. Soon, this new financial treatment caused a crisis over Latin America's short-term loans which lasted a whole decade (Devlin and French-Davis 1995). Dealing with financial turmoil, the banking system needed a debt restructuring through new loans under strict conditions, supervised by the IMF.…”

Section: Empirics From Global South Debt Crises In the Long 1980smentioning

confidence: 99%

The Changing Geography of Debt and IMF's Involvement: From Global to European South

Papageorgiou¹,

Rousopoulos²,

Koskoletos³

2016

World Review of Political Economy

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The risk reassessment process having taken place after the outburst of the crisis of 2008 highlights the role of the International Monetary Fund (IMF) as a last resort lender. In this article, we try to evaluate the fiscal and political presuppositions of the IMF's recent history toward crediting countries, focusing particularly in the case of Greece. We try to unravel the specific neoliberal dogma suppressing the Greek people, and the practices through which it succeeds in this direction, concluding that debt accumulation is acting rather as a disciplinary force than as a request for repayment. Furthermore, we focus on the issues that come up along with debt relief process, and the policy shifts in the IMF's history, arguing that different strategies of capital are unfolding: a moderate New Keynesianism based on the capitalist “utopia” of the unburdened state, and another offensive neoliberalism based on an antagonistic relationship between the creditor and the debtor with reference to “biopolitics.”

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Section: Empirics From Global South Debt Crises In the Long 1980smentioning

confidence: 99%

The Changing Geography of Debt and IMF's Involvement: From Global to European South

Papageorgiou¹,

Rousopoulos²,

Koskoletos³

2016

World Review of Political Economy

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Die strukturelle Unterfinanzierung der Peripherie

Banse

2023

PROKLA

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Gegenwärtig ist der Globale Süden mit einer eskalierenden Schuldenkrise konfrontiert. Viele Länder des Globalen Südens gelten als kritisch verschuldet. Charakter und Intensität der gegenwärtigen Krise hängen eng mit der Schuldenkrise des Globalen Südens zusammen, die sich in den 1970er-Jahren bereits abzeichnete und schließlich Anfang der 1980er-Jahre eskalierte. Die Art der Krisenbearbeitung durch die Gläubigerstaaten prägt wesentlich die gegenwärtige Schuldendynamik. An den politischen Strategien in den 1980er-, 1990er- und 2000er-Jahren wird gezeigt, dass sich mit der Form der Krisenbearbeitung die »passive Extraversion« peripherer Staaten vertieft und sich so ihre Abhängigkeit von externer Entwicklungsfinanzierung verstärkt hat.

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The great Latin America debt crisis: a decade of asymmetric adjustment

Cited by 2 publications

References 10 publications

The Changing Geography of Debt and IMF's Involvement: From Global to European South

The Changing Geography of Debt and IMF's Involvement: From Global to European South

Die strukturelle Unterfinanzierung der Peripherie

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