The finances of hegemony in Latin America: debt negotiations and the role of the United States government, 1945-2005 (original) (raw)

The paper analyzes the historical context and implications of debt negotiations in Latin America, particularly focusing on the dynamics between the United States government and Latin American countries from 1945 to 2005. It argues that the debt crises initiated in the 1980s led to significant economic reform, including neoliberal practices, which further entrenched foreign indebtedness and instability in the region. Notably, the case of Mexico is examined to illustrate the political motivations behind rising foreign debt and how these motivations complicated U.S. involvement and policy decisions, culminating in the unprecedented Argentine default. The paper underscores the political dimensions of financial crises and their effects on Latin American economies within the global financial system.