Salvador Allende and the International Monetary Fund, 1970–1973: The<i>Depoliticisation</i>and<i>Technocratisation</i>of Cold War Relations

Kedar, Claudia

doi:10.1017/s0022216x15000413

Cited by 7 publications

(7 citation statements)

References 22 publications

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“…Stiles (1990) and Westad (2005, 207-249) present the IMF as a tool in US foreign policy in the case of Zaire. In contrast, Kedar (2015Kedar ( , 2017 shows that socialist Chile under Allende collaborated with the IMF in spite of the opposition from the US government. Thacker (1999) and Oatley and Yackee (2004) do not find statistically significant results that support the hypotheses that the IMF traded loans for votes aligned with the United States in the UN before 1990.…”

Section: The Political Economy Of the Imf And Geopoliticsmentioning

confidence: 96%

The West’s Teeth: IMF Conditionality During the Cold War

Akerman¹,

Weller²,

Pessoa³

2020

Preprint

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Was the International Monetary Fund (IMF) susceptible to political pressure from the United States and its Western allies during the Cold War? To answer this question, we construct a new database containing the number of conditions applied to over 500 IMF loans since 1970 and analyze how the distance from a borrowing country to its closet communist neighbor affected the IMF conditionality. We show that the fund imposed fewer conditions on loans to countries geographically closer to the communist bloc. Results are stronger when neighboring communist countries were not part of the Warsaw Pact. This pattern persisted during the 1990s, when the fund helped former communist countries in their transition to market economies. However, we find no strong evidence of such discretionary treatment by the IMF after 2001, when thecontainment of communism had ceased to be the West’s top priority.

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Section: The Political Economy Of the Imf And Geopoliticsmentioning

confidence: 96%

The West’s Teeth: IMF Conditionality During the Cold War

Akerman¹,

Weller²,

Pessoa³

2020

Preprint

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“…Foreign financial regulatory bodies and monetary authorities did not have the power to regulate bankers’ overseas lending operations in order to sustain sound institutions and avoid systemic risks and market instabilities (Frydl 1979-1980; Carlozzi 1981; Schenk 2010; Altamura 2015). The Fund had to concede that it could not control deficit countries’ all-too-easy banking loans which delayed indispensable economic stabilisation policies (Witteveen 1976; Helleiner 1985, 1994; James 2005; Schenk 2006, 2010). After the 1973-1974 oil crisis, therefore, all of them welcomed the recycling of petrodollars as an effective, efficient and timely relief for the balance of payment problems of oil-importing nations.…”

Section: Central Bank Orthodoxy State Banks and The «Deepening» Of Amentioning

confidence: 99%

Multilateral Loans, Banking Finance, and the Martínez De Hoz Plan in Argentina, 1976-1981

Heras¹

2018

RHE / JILAEH

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This article examines Argentine relations with multilateral agencies and bankers during the first years of the last military dictatorship. It begins with an overview of relations and the external situation before the rise of the military and why a new economic team sought and restored Argentine credit standing. There follows a review of how links with the U.S. Treasury and international institutions lost significance and how cross-country financial intermediation, carried out mainly by leading state banks, gave foreign bankers a key role in the financing of Argentina’s foreign exchange needs. It also emphasises explicit and underlying motivations in the behaviour and policies of all actors involved and offers an evaluation of former Minister Martínez de Hoz’s efforts to justify these policies in the early 1980s.

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“…They also sidestepped relevant literature on the policies and institutional changes in multilateral lending agencies (see for example Babb 2009;Sharma 2013bSharma , 2017Gould 2006;Vreeland 2003;Copelovitch 2010;Chwieroth 2008Chwieroth , 2010. The input of these recent scholarly perspectives, as well as a closer look at other unused sources such as the recent memoirs of Martínez de Hoz, adds to our understanding of the Argentine case and catches up debates on the international financial relations of Mexico and Chile from the collapse of the Bretton Woods system to the outbreak of the foreign debt crisis of the 1980s (Kedar 2015(Kedar , 2017a(Kedar , 2017b(Kedar , 2018aAlvarez 2015Alvarez , 2017Alvarez , 2018Kershaw 2018).…”

Section: Introductionmentioning

confidence: 99%

The Return of International Finance and the Martínez de Hoz Plan in Argentina, 1976–1978

Heras¹

2022

Lat. American Res. Rev.

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This article is an effort to update a discussion of Argentina's international financial relations during the late 1970s that is lagging behind recent scholarly developments on the cases of Mexico and Chile. It focuses on the early restoration of Argentine credit standing with multilateral financial institutions, as well as their loans and technical assistance, achieved by Minister Martínez de Hoz and his team during their early years in office. So far this stage had not elicited detailed analyses of its differences with the controversial and better-known monetary balance of payments approach adopted in December 1978 to finally curb inflation, and which gave international private bankers a leading role in the financing of Argentina's foreign exchange needs.Este artículo retoma la discusión sobre las relaciones financieras internacionales de Argentina a fines de la década de 1970 para equipararla con los recientes estudios sobre los casos de Méjico y Chile. Está centrado en la restauración del crédito y la asistencia técnica de los organismos financieros internacionales que lograron el Ministro Martínez de Hoz y su equipo durante sus primeros años en la función pública. Hasta ahora esta etapa no había sido objeto de un detallado análisis que marcara las diferencias con el período más controvertido y mucho más conocido del enfoque monetario del balance de pagos adoptado en diciembre de 1978 como herramienta anti-inflacionaria, y que dio a los banqueros privados un destacado rol en el financiamiento externo de la Argentina.En estos momentos el problema de mayor gravedad es la crisis del sector externo, que hace temer que el país enfrente en las próximas semanas el estado de cesación de pagos.

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Salvador Allende and the International Monetary Fund, 1970–1973: TheDepoliticisationandTechnocratisationof Cold War Relations

Cited by 7 publications

References 22 publications

The West’s Teeth: IMF Conditionality During the Cold War

The West’s Teeth: IMF Conditionality During the Cold War

Multilateral Loans, Banking Finance, and the Martínez De Hoz Plan in Argentina, 1976-1981

The Return of International Finance and the Martínez de Hoz Plan in Argentina, 1976–1978

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