The World Bank lending and non-lending to Latin America: The case of Argentina, 1971-1976

Claudia Kedar*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

3 Scopus citations

Abstract

Through the analysis of Argentina-World Bank (WB) relations between 1971 and 1976, this article examines how democracies and dictatorships, as well as political and economic constraints did (or did not) impact WB lending to Latin America. This period is especially revealing. Between May 1971 and September 1976, the WB did not grant any new loans to Argentina, thereby generating an exceptional and unusually long break in WB lending to the country. Drawing on previously undisclosed files from the WB Archives and additional primary sources from Argentina and the United States, this article unveils the actual mechanisms, criteria and justification that stood behind the decision to lend or not to lend to Argentina. It maintains that the WB's self-imposed principle of «neutrality» played a crucial role in facilitating the WB's relations with Argentina during the politically and economically unstable early 1970s.

Original languageAmerican English
Pages (from-to)111-138
Number of pages28
JournalRevista de Historia Economica - Journal of Iberian and Latin American Economic History
Volume37
Issue number1
DOIs
StatePublished - 1 Mar 2019

Bibliographical note

Publisher Copyright:
© 2018 Instituto Figuerola, Universidad Carlos III de Madrid.

Keywords

  • Argentina
  • Latin America
  • Peronism
  • World Bank
  • dictatorships

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