
Contents
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Preview of the Case Study of Argentina Preview of the Case Study of Argentina
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Episode 1: Neoliberals to the Rescue, 1976–1981 Episode 1: Neoliberals to the Rescue, 1976–1981
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The Proceso Takes Power The Proceso Takes Power
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The Neoliberal Orientation of the New Argentine Economic Policy Team The Neoliberal Orientation of the New Argentine Economic Policy Team
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Neoliberals and Structuralists Neoliberals and Structuralists
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The Martínez de Hoz Plan and Improved Relations with the IMF The Martínez de Hoz Plan and Improved Relations with the IMF
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Performance under the 1976 Standby Arrangement Performance under the 1976 Standby Arrangement
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The Second Standby Arrangement The Second Standby Arrangement
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The End of the First Era of Neoliberal Influence in Argentina The End of the First Era of Neoliberal Influence in Argentina
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Summary of the First Episode, 1976–1981 Summary of the First Episode, 1976–1981
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Episode 2: Turbulence, Turnover, and the Battle with the IMF, 1981–1985 Episode 2: Turbulence, Turnover, and the Battle with the IMF, 1981–1985
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Things Fall Apart: The End of the Military Regime Things Fall Apart: The End of the Military Regime
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Tough Negotiations over a New Standby Arrangement Tough Negotiations over a New Standby Arrangement
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Performance under the 1983 Arrangement Performance under the 1983 Arrangement
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The Battle with the Fund, 1983–1985 The Battle with the Fund, 1983–1985
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The Negotiations Begin The Negotiations Begin
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An Accord Is Reached An Accord Is Reached
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Summary of the Second Episode, 1981–1985 Summary of the Second Episode, 1981–1985
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Concluding Thoughts Concluding Thoughts
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4 Argentina and the IMF in Turbulent Times, 1976–1984
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Published:February 2017
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Abstract
This chapter examines Argentina's relationship with the International Monetary Fund (IMF) during the period 1976–1984. It tracks Argentina's engagement with the IMF from the arrival of a Fund mission soon after the military junta took power in 1976 through to the economic meltdown in the last months of 2001, which culminated in the withdrawal of IMF support for the country and the largest sovereign default in history to that point. The Argentina-IMF case is used to test the argument linking treatment of borrowers to shared economic beliefs. The chapter first provides an overview of economic policymaking in Argentina in 1976–1981 and in 1991–2001; economic policymaking in the latter period was dominated by neoliberals. It also compares the economic beliefs of neoliberals with those of structuralists and concludes with a discussion of the breakdown in Argentine-IMF relations.
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