Latin America, the Debt Crisis, and the International Monetary Fund

  title={Latin America, the Debt Crisis, and the International Monetary Fund},
  author={M. Pastor},
  journal={Latin American Perspectives},
  pages={110 - 79}
  • M. Pastor
  • Published 1989
  • Political Science
  • Latin American Perspectives
Since 1982, the International Monetary Fund (IMF, or Fund) has played a major role in managing the international and intranational conflicts caused by the nearly half trillion dollars of Latin American debt. Throughout the decade, Fund missions have shuttled from country to country, recommending austerity programs that open the door to debt rescheduling. Under IMF direction, debt service has generally been maintained and a depression-scale financial calamity has been avoided. At the same time… Expand

Tables from this paper

Stasis and change in the IMF and World Bank: international context and institutional dynamics
Abstract Despite changes in the international political economy, and pronounced dissatisfaction with their performance by developing states, the International Monetary Fund and the World Bank haveExpand
The political economy of trade liberalization in Mexico : the de la Madrid administration, 1982-1988
This thesis examines the political economy of Mexican trade policy in the administration of Miguel de la Madrid (1982-1988). The central question focuses on the reasons for and the conditions underExpand
Debt overhang: A review of the Latin American experiences of the eighties. The case of Brazil
In this paper we examine the debt overhang problem in Brazil during the 80s. As it might be recalled, during the late seventies many Latin American countries were engaged in the first wave ofExpand
Not in Our Nature The Male Deal and Corporate Solutions to the Debt-Nature Crisis*
1984, Paul Lovejoy of the World Wildlife Fund proposed a new approach to Third World debt management called debt for nature swaps (DFNs). Such swaps involve government agencies and non-governmentalExpand
Crisis in the Eye of the Beholder
This article analyzes the interaction between economic crises and partisan politics during International Monetary Fund program initiation in Latin America in the 1980s and Eastern Europe in theExpand
Beyond the Boom: Dependent Development and Political Change in Argentina (2010–2015)
The integration of Latin American countries into the global economy has historically proceeded through the export of primary commodities, a dependency that has long exposed them to developments inExpand
The Complexity and Instability of Policy Conditionality and Transfer: IMF Interventions in the Political Economy of South America.
International Monetary Fund (IMF) interventions have evolved in the last sixty years based on the predominant orthodoxy in world political economy with a focus in recent decades on encouragingExpand
Disease in a Debt Crisis: Financing Global Health, Development and AIDS between WHO and World Bank, 1978–87
This article examines how international organisations with mandates in health and development interpret global economic crises and respond to disease. It contributes the perspective of World Bank toExpand
The Social Impact of the International Monetary Fund: Structural Adjustment Programs in Latin America from 1980-2000
This paper examines 17 Latin American countries to study the IMF’s impact on their social development. I try to determine if the funds provided by the IMF are associated with improvements in socialExpand
The performance of UK financial institutions over periods of market stability and volatility, 1980-2015
This thesis is concerned with an empirical investigation of the financial performance of UK financial institutions over the period 1980-2015. This period reflects numerous changes in the developmentExpand


External Debt and Macroeconomic Performance in Latin America and East Asia
SINCE THE ONSET of the international debt crisis in the early 1980s, the dismal economic performance of the Latin American debtor countries has been frequently contrasted with the strong performanceExpand
Debt and Development: The Future of Latin America
Renegotiation of Latin America's debt since 1982 may have led to the illusion that the problem period has passed. At best, the crisis is under control; at worst, this is only the calm before theExpand
The international organization of Third World debt
Third World debt grew very rapidly in the 1970s. Many states, faced with sharply higher costs for energy and manufactured imports, borrowed aggressively in unregulated offshore capital markets. ButExpand
Latin American Debt: I Don't Think We Are in Kansas Anymore
BLAMING VICTIMS is an appealing evasion of responsibility, especially when the victims are far from virtuous. But when sins are as heterogeneous as those of the Latin American regimes of 1980, oneExpand
The Role of the International Monetary Fund in the Post-Bretton Woods Era
This paper examines the changing role of the International Monetary Fund (IMF) in the world economy in the 1970s and into the 1980s. Though the IMF was established in 1945 by the Bretton WoodsExpand
From Debt to Development: Alternatives to the International Debt Crisis, and: Bank Lending to Developing Countries: The Policy Alternatives, and: Financial Intermediation Beyond the Debt Crisis, and: The Current Crisis in International Lending (review)
Nevertheless, the intensity of the opposition clearly matched the "soft" support in every body of opinion—the public, the Senate, and the international banking and business community. Both treatiesExpand
International Debt: Systemic Risk and Policy Response
Now available directly from: IIE11 Dupont Circle, NWWashington, DC 20036Tel: (202) 328-9000This book traces the origins of international debt and recent trends that burden it, including the effect ofExpand
Policy and Performance Links between LDC Debtors and Industrial Nations
IN 1984 spokesmen for heavily indebted developing nations complained about the sharp interest rate increases that had come in the wake of the U.S. economic recovery. Emphasizing that the U.S.Expand
Stabilization: The political economy of overkill
Abstract This paper considers whether national and international aspects of the IMF's stabilization programmes during the 1970s and early 1980s have resulted in a process of ‘overkill’ — or, in otherExpand
Adjustment policies in developing countries, 1979-83 : an update
Analysis of the policies applied by developing countries in response to the external shocks of the 1979-82 period is extended to 1983. The shocks in question include the increase in oil prices inExpand