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IMF presence in Latin America in the XXI century: looking for a new paradigm of relations
 
PIIS0044748X0011331-3-1
DOI10.31857/S0044748X0011331-3
Publication type Article
Status Published
Authors
Victor Jeifets 
Affiliation:
Saint Petersburg State University
Saint Petersburg State University of Aerospace Instrumentation
Address: Russian Federation, Saint Petersburg
Daria Pravdiuk
Affiliation: Saint Petersburg State University
Address: Russian Federation, Saint Petersburg
Journal nameLatin America
EditionIssue 10
Pages54-67
Abstract

Under the conditions of fluctuations in the world economy, the International Monetary Fund (IMF) actively influences the economic policy of the Latin American region. This continued presence enabled the IMF to transmit the values of the neoliberal economic model to Latin American countries, as IMF intervention tended to become more intense in times of crisis, worsening balance of payments and lack of sufficient external funding. IMF critics often question the Fund’s decisive action, not only because of the recessive impact they may have on the economy, but also because of the potentially negative impact on political institutions and vulnerable social groups. In the XXI century debtor-countries are increasingly questioning the correctness of the “neoliberal recipes” of the Fund. Using the examples of Argentina, Brazil and Ecuador, the authors analyze the conditions of IMF financing programs, focusing on the efforts of governments to maintain as much independence as possible.

KeywordsLatin America, IMF, neoliberalism, debt crisis, Argentina, Brazil, Ecuador
AcknowledgmentRussian Foundation for Basic Research, №19-014-00042
Received10.06.2020
Publication date30.09.2020
Number of characters31380
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