The indebtedness of developing countries was promoted by transnational banks; they were extremely reckless in their search for business and in their policy of penetrating the periphery. But this hardly explains the international context of the debt phenomenon. It does not illustrate how and for what the affected countries got into debt. To understand it, it is essential to observe the policies followed in each country and their insertion into international trends. We argue that the relationship between external debt and significant economic variables was decisively conditioned by the economic policies applied. In Latin America, there were two main experiences: countries that got into debt while maintaining the traditional paradigm of their policies, and those that promoted external openness. The first are Brazil and Mexico, the second especially Argentina. Now, faced with the need for adjustment, the international financial system intends to once again strengthen the role of the International Monetary Fund.
Keywords:
External Debt, International Financial System, Latin America, International Monetary Fund, Argentina
Ferrer, A. (1983). La deuda externa y las políticas nacionales. Estudios Internacionales, 16(62), p. 315–329. https://doi.org/10.5354/0719-3769.1983.16119
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