As of 1976, loans to Argentina reached a prominent place in the operations of international private banking. How was the Argentine economy linked to the expansionary trends of the international financial system? Within which global economic strategy did indebtedness increase? The financial reform, the freeing of funds movements abroad and the exchange rate adjustment table laid the foundations for rapid financial integration. This external opening, which requires an opening of the internal market, radically modified the traditional behavior of the Argentine economy and subordinated fiscal and monetary policy to the prevailing trends in the international order. Regarding its ability to pay, we maintain that Argentina's foreign debt is not the most important problem, nor are the policies to address it the first priority to which its economic leadership should respond.
Keywords:
Argentina, Foreign Debt, Economic Policy, Monetarism, International Financial System
Author Biography
Aldo Ferrer
Ex ministro de economía de Argentina y destacado economista latinoamericano.
Ferrer, A. (1983). ¿Puede Argentina pagar su deuda externa?. Estudios Internacionales, 16(64), p. 603–628. https://doi.org/10.5354/0719-3769.1983.15881
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