Friends or foes? Brazil, the IMF and the World Bank, 1961–1967
نویسندگان
چکیده
Between June 1959 and March 1964, the democratic governments of Brazilian presidents Juscelino Kubitschek (January 1956 – January 1961), Janio Quadros (January–August Ranieri Mazzilli (August–September 1961) João ‘Jango’ Goulart (September 1961 April 1964) received no support from World Bank (WB), which refused to fund even a single new project during this period. During same period, and, more specifically, between July 1958 1965, International Monetary Fund (IMF), WB's twin institution, granted financial assistance Brazil only twice: controversial highly conditional Stand-By Arrangement (SBA) signed in May 1961; non-conditional automatically approved Compensatory Financial Facility (CFF), 1963 compensate for decrease coffee prices on international market. This attitude towards changed significantly following military coup 1964. Money flowed into country by 1970 had become largest receiver WB funds chronic borrower IMF, signing two SBAs one per year 1966 1972. We use recently disclosed material archives analyse relationship these institutions with foster debate their political neutrality, arguing that difference IMF's especially relations regime reflected, than anything else, existence an ideological affinity parties regards ‘right’ economic policy.
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ژورنال
عنوان ژورنال: Financial History Review
سال: 2021
ISSN: ['0968-5650', '1474-0052']
DOI: https://doi.org/10.1017/s096856502100007x