International finance between two ages: The experience of Peronist Argentina, 1973-1976

Résumé 0

This article examines international financial relations of a key Latin American nation in the early 1970s. The focus is on the World Bank and the International Monetary Fund. This period was a turning point between the collapsing Bretton Woods regime of multilateral and bilateral external financing, and unregulated banking intermediation that prevailed as a source of foreign exchange until the Latin American debt crises of the 1980s. It pursues and refines earlier scholarly analyses which argue that this interlude was a frustrated effort to adapt to the international finance scenario of the 1970s and break with earlier dependency towards multilateral lending institutions dating to the late 1950s. But it also maintains that such failure included a belated and hitherto unknown drive to tap the burgeoning Euromarkets, and set the stage for the full restoration of international financial relations during the early years of the military dictatorship of 1976-1983.