Hostname: page-component-cd9895bd7-gxg78 Total loading time: 0 Render date: 2024-12-22T19:25:17.515Z Has data issue: false hasContentIssue false
  • English
  • Français

Salvador Allende and the International Monetary Fund, 1970–1973: The Depoliticisation and Technocratisation of Cold War Relations

Published online by Cambridge University Press:  19 May 2015

CLAUDIA KEDAR
Get access Rights & Permissions [Opens in a new window]

Abstract

This article unveils the continuous and productive relationship that developed between Chile and the IMF during Salvador Allende's presidency (1970–73). This counter-intuitive relationship was made possible by the systematic depoliticisation and technocratisation of the ties between them. By downplaying ideological discrepancies and keeping a high degree of autonomy, the IMF and Chilean technocrats blurred rigid Cold War divides and circumvented the US-imposed embargo against Allende's regime. The examination of this relationship sheds new light on Allende's positioning in the international arena and provides a unique prism to reconsider dichotomist perceptions of the Cold War in Latin America.

Spanish abstract

Este artículo muestra la continua y productiva relación que se desarrolló entre Chile y el FMI durante la presidencia de Salvador Allende (1970–73). Esta peculiar relación fue posible por la sistemática despolitización y tecnocratización de los lazos entre ellos. Al poner de lado las discrepancias ideológicas y mantener un alto grado de autonomía, el FMI y los tecnócratas chilenos hicieron menos claras las rígidas divisiones de la Guerra Fría y circunnavegaron el embargo estadounidense en contra del régimen de Allende. El examen de dicha relación ofrece una nueva perspectiva sobre el posicionamiento de Allende en la arena internacional y provee un enfoque único para reconsiderar las percepciones dicotómicas de la Guerra Fría en Latinoamérica.

Portuguese abstract

Este artigo desvela a contínua e produtiva relação que se desenvolveu entre o Chile e o FMI durante o mandato de Salvador Allende (1970–1973). Este relacionamento contra-intuitivo tornou-se possível devido à sistemática despolitização e tecnocratização da relação entre as duas partes. Minimizando as diferenças ideológicas e mantendo um alto nível de autonomia, o FMI e os tecnocratas do Chile ofuscaram as divisões da Guerra Fria e contornaram o embargo imposto pelos Estados Unidos contra o governo de Allende. A análise desta relação apresenta uma nova visão sobre o posicionamento de Allende na arena internacional e oferece um ponto de vista único para se reconsiderar percepções dicotômicas sobre a Guerra Fria na América Latina.

Keywords

Salvador AllendeIMFCold Wardepoliticisationtechnocratisationtechnocratsbureaucratic apparatusinvisible blockadeSalvador AllendeFMIGuerra Fríadespolitizacióntecnocratizacióntecnócratasaparato burocráticobloqueo invisibleSalvador AllendeFMIGuerra Friadespolitizaçãotecnocratizaçãotecnocratasaparato burocráticobloqueio invisível
Type
Research Article
Information
Journal of Latin American Studies , Volume 47 , Issue 4 , November 2015 , pp. 717 - 747
Check for updates
Copyright
Copyright © Cambridge University Press 2015 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

1 Speech to the United Nations, 4 Dec. 1972, available at http://www.salvador-allende.cl/Discursos/1972/NU.pdf. Allende accused lending institutions, apart from the IMF, on several occasions: see also his speech in the National Stadium in Santiago, 4 Nov. 1971, available at http://www.salvador-allende.cl/Discursos/1971/PrimerAniversario.pdf.

2 Scholarship on destabilising efforts against Allende is abundant: see, for example, Qureshi, Lubna Z., Nixon, Kissinger, and Allende: U. S. Involvement in the 1973 Coup in Chile (Lanham, MD: Rowman & Littlefield, 2010)Google Scholar; Gustafson, Kristian, Hostile Intent: U. S. Covert Operations in Chile, 1964–1973 (Dulles, VA: Potomac Books, 2007)Google Scholar; Haslam, Jonathan, The Nixon Administration and the Death of Allende's Chile: A Case of Assisted Suicide (New York: Verso, 2005)Google Scholar.

3 See, among others, Babb, Sarah, ‘The IMF in Sociological Perspective: A Tale of Organizational Slippage’, Studies in Comparative International Development, 38: 2 (2003), pp. 3–27CrossRefGoogle Scholar; Chwieroth, Jeffrey, Capital Ideas: The IMF and the Rise of Financial Liberalization (Princeton, NJ: Princeton University Press, 2010)Google Scholar; Copelovitch, Mark, The International Monetary Fund in the Global Economy (Cambridge: Cambridge University Press, 2010)CrossRefGoogle Scholar; Kedar, Claudia, The International Monetary Fund and Latin America: The Argentine Puzzle in Context (Philadelphia, PA: Temple University Press, 2013)Google Scholar.

4 On Chile's Chicago Boys, see Brender, Valerie, ‘Economic Transformations in Chile: The Formation of the Chicago Boys’, American Economist, 55: 1 (2010), pp. 111–22CrossRefGoogle Scholar; Délano, Manuel and Traslaviña, Hugo, La herencia de los Chicago Boys (Santiago: Ornatorrinco, 1989)Google Scholar; Huneeus, Carlos, ‘Technocrats and Politicians in an Authoritarian Regime. The “ODEPLAN Boys” and the “Gremialists” in Pinochet's Chile’, Journal of Latin American Studies, 32: 2 (2000), pp. 461–501CrossRefGoogle Scholar; Sigmund, Paul, ‘The Rise and Fall of the Chicago Boys in Chile’, SAIS Review of International Affairs, 3: 2 (1983), pp. 41–58Google Scholar; Valdés, Juan Gabriel, La escuela de Chicago: operación Chile (Buenos Aires: Zeta, 1989)Google Scholar.

5 Biglaiser, Glen, ‘The Internationalization of Chicago's Economics in Latin America’, Economic Development and Cultural Change, 50: 2 (2002), pp. 269–86CrossRefGoogle Scholar; Anil, Hira, Ideas and Economic Policy in Developing Countries: Regional, National and Organizational Case Studies (Westport, CT: Praeger, 1998)Google Scholar, chaps. 2–5; Montecinos, Verónica, ‘Economists in Party Politics: Chilean Democracy in the Era of the Markets’, in Centeno, Miguel A. and Silva, Patricio (eds.), The Politics of Expertise in Latin America (London: Macmillan, 1998), pp. 126–41CrossRefGoogle Scholar; Silva, Patricio, ‘Technocrats and Politics in Chile: From the Chicago Boys to the CIEPLAN Monks’, Journal of Latin American Studies, 23: 2 (1991), pp. 385–410CrossRefGoogle Scholar; Silva, Patricio, In the Name of Reason: Technocrats and Politics in Chile (University Park, PA: Penn State University Press, 2009)Google Scholar.

6 Silva, In the Name of Reason, p. 221.

7 In order to explain the technocratisation of IMF-Chile relations during Allende's regime, I refer, when possible, to specific technocrats who were remarkably proactive and influential. Unfortunately, it is extremely difficult to obtain biographical information about the technocrats in both the IMF and Allende's administration. The IMF, as a rule, does not make available any biographical data on former and current staff. As for Chile, official records, newspapers, and other primary and secondary sources provide several personal details of ministers of economy and presidents of the Central Bank (all of them public figures), but the remainder of the staff usually remains anonymous and behind the scenes.

8 For a revealing examination of Cuba's complex relations with Allende's Chile, see Harmer, Tanya, Allende's Chile & the Inter-American Cold War (Chapel Hill, NC: University of North Carolina Press, 2011)Google Scholar, especially pp. 11–16, 32–8, 65–7, 132–3, 199–200.

9 Harmer, Allende's Chile; Joseph, Gilbert and Spenser, Daniela (eds.), In from the Cold: Latin America's New Encounter with the Cold War (Durham, NC: Duke University Press, 2008)Google Scholar.

10 Sigmund, Paul, ‘The “Invisible Blockade” and the Overthrow of Allende’, Foreign Affairs, 52: 2 (1974), pp. 322–40CrossRefGoogle Scholar.

11 Israel, Ricardo, Politics and Ideology in Allende's Chile (Tempe, AZ: Arizona State University, 1989), pp. 160–6Google Scholar.

12 Most Soviet Bloc states withdrew from the Bretton Woods institutions during the Cold War and only rejoined them after 1992, although Romania joined in 1972: IMF List of members, available at www.imf.org/external/np/sec/memdir/memdate.htm. See also Assetto, Valerie J., The Soviet Bloc in the IMF and the IBRD (Boulder, CO: Westview Press, 1988)Google Scholar, chaps. 2 and 4.

13 Pastor, Juan Manuel, ‘Managing the Latin American Debt Crisis: The International Monetary Fund and Beyond’, in Epstein, Gerald, Graham, Julie and Nembhard, Jessica (eds.), Creating a New World Economy: Forces of Change and Plans of Action (Philadelphia, PA: Temple University Press, 1993), pp. 289–313Google Scholar.

14 de Vries, Margaret Garritsen, The International Monetary Fund, 1972–1978: Cooperation on Trial (Washington, DC: IMF, 1985)Google Scholar, vol. I, chap. 1; Gowa, Joanne, Closing the Gold Window: Domestic Politics and the End of Bretton Woods (Ithaca, NY: Cornell University Press, 1983)Google Scholar, chap. 2; James, Harold, International Monetary Cooperation since Bretton Woods (Washington, DC: IMF and Oxford University Press, 1996)Google Scholar, chap. 9.

15 Vreeland, James, The International Monetary Fund: Politics of Conditional Lending (New York: Routledge, 2007), p. 9Google Scholar.

16 de Vries, Margaret Garritsen, The IMF in a Changing World, 1945–85 (Washington, DC: IMF, 1986), pp. 85–93Google Scholar.

17 Almeyda, Clodomiro, Obras escogidas, 1947–1992 (Santiago and Madrid: Centro de Estudios Políticos Simón Bolívar and Fundación Presidente Allende, 1992)Google Scholar, chap. 6.

18 Harmer, Allende's Chile, pp. 78–9.

19 On the UP's ideological pluralism, see Almeyda, Obras escogidas, chap. 6.

20 Kofas, Jon, The Sword of Damocles: US Financial Hegemony in Colombia and Chile, 1950–1970 (London: Praeger, 2002), pp. 179–82Google Scholar.

21 Cohen, Benjamin, ‘Balance-of-Payments Financing: Evolution of a Regime’, International Organization 36: 2 (1982), pp. 457–78CrossRefGoogle Scholar; Gold, Joseph, Stand-by Arrangements (Washington DC: International Monetary Fund, 1970)Google Scholar; Gould, Erica, Money Talks: The International Monetary Fund, Conditionality, and Supplementary Financiers (Stanford, CA: Stanford University Press, 2006)CrossRefGoogle Scholar, chap. 1.

22 Pinto, Anibal, ‘Estabilidad y desarrollo: ¿metas incompatibles o complementarias?’, El Trimestre Económico, 27: 2 (1960), pp. 258–73Google Scholar; Sunkel, Osvaldo, ‘El fracaso de las políticas de estabilización en el contexto del proceso de desarrollo latinoamericano’, El Trimestre Económico, 30: 4 (1963), pp. 620–40Google Scholar.

23 Hira, Anil, Ideas and Economic Policy in Latin America: Regional, National, and Organizational Case Studies (Westport, CT, and London: Praeger, 1999), pp. 56–73Google Scholar; Kay, Cristóbal, Latin American Theories of Development and Underdevelopment (London and New York: Routledge, 1989), pp. 47–54Google Scholar.

24 Kay, Latin American Theories, pp. 50–1.

25 Pinto, ‘Estabilidad y desarrollo’, pp. 258–73.

26 Kofas, The Sword of Damocles, pp. 134–5.

27 Ibid, pp. 116–21.

28 ‘Fund Relations with Chile’, 11 Aug. 1971, Appendix to SM/71/209, IMF Archives.

29 Statements referring to friendly Chile-IMF relations appear in several IMF internal documents and reports; see, for example, ‘Mr. Escobar's Statement on Chile. Executive Board Meeting 70/53’, EBM 70/53 (22 June 1970), IMF Archives.

30 Dosman, Edgar, The Life and Times of Raúl Prebisch (London: McGill-Queen's University Press, 2008), p. 462Google Scholar.

31 Jorge Del Canto to Managing Director and Deputy Managing Director, Confidential Office Memorandum, Chile, 2 Dec. 1969, Chile Country Files, Immediate Office Sous-Fonds, Western Hemisphere Department (hereafter WHD-Chile), Box # 49, Folder 2, IMF Archives.

32 Hojman, David, Chile: The Political Economy of Development and Democracy in the 1990s (Pittsburgh, PA: University of Pittsburgh Press, 1993), p. 23CrossRefGoogle Scholar.

33 Ibid.

34 Jacques Barnouin to Managing Director and the Deputy Managing Director, Confidential Office Memorandum, ‘Mission to Chile, 2–20 March 1970’, 27 March 1970, WHD-Chile, Box # 49, Folder 2, IMF Archives.

35 Ibid.

36 Gareau, Frederich, State Terrorism and the United States: From Counterinsurgency to the War on Terrorism (Atlanta, GA: Clarity Press and Zed Books, 2004)Google Scholar, chap. 3.

37 Andrew, Christopher and Mitrokhin, Vasili, The World Was Going Our Way: The KGB and the Battle for the Third World (New York: Basic Books, 2005)Google Scholar, chap. 4; Nogee, Joseph and Sloan, John, ‘Allende's Chile and the Soviet Union: A Policy Lesson for Latin American Nations Seeking Autonomy’, Journal of Interamerican Studies and World Affairs, 21: 3 (1979), pp. 339–68CrossRefGoogle Scholar.

38 Del Canto to Paul Schweitzer, Note, 14 Sept. 1970, WHD-Chile, Box # 49, Folder 2, IMF Archives. Special Drawing Rights (SDRs) are an international reserve asset created by the IMF in 1969 to supplement its member countries' official reserves. Their value is now based on a basket of four key international currencies, and they can be exchanged for freely usable currencies.

39 Barnouin to Del Canto, Office Memorandum, Dr Allende's Campaign Statements about Chile's Relationship with the Fund, 14 Sept. 1970, WHD-Chile, Box # 49, Folder 2, IMF Archives.

40 Ibid.

41 Ibid.

42 Ibid.

43 Allende, Salvador, ‘Por qué soy candidato único de la izquierda’ (Speech in the Senate, 6 Jan. 1970), in Martner, Gonzalo (ed.), Salvador Allende, 1908–1973: obras escogidas (Santiago and Madrid: Centro de Estudios Políticos Simón Bolívar and Fundación Presidente Allende, 1992), pp. 275–80Google Scholar.

44 UP Pact signed in December 1969, available at http://www.salvador-allende.cl/Unidad_Popular/Pacto%20de%20la%20UP.pdf.

45 Bhagwati, Jagdish N. (ed.), The New International Economic Order: The North-South Debate (Cambridge, MA: MIT Press, 1977)Google Scholar; Cox, Robert, ‘Ideologies and the NIEO: Reflections on Some Recent Literature’, International Organization, 33: 2 (1979), pp. 257–302CrossRefGoogle Scholar; Craig, Murphy, Emergence of the NIEO Ideology (Boulder, CO: Westview, 1984)Google Scholar; Haggard, Stephen and Simmons, Beth A., ‘Theories of International Regimes’, International Organization, 41: 3 (1987), pp. 491–511CrossRefGoogle Scholar; Lozoya, Jorge and Estevez, Jaime (eds.), Latin America and the New International Economic Order (New York: Pergamon Press, 1980)Google Scholar.

46 Programa básico del gobierno de la Unidad Popular, available at http://www.memoriachilena.cl/archivos2/pdfs/MC0000544.pdf.

47 Fontaine, Arturo and Pino, Miguel González (eds.), Los mil días de Allende (Santiago: Andros Impresores, 1997), pp. 961–3Google Scholar.

48 It grew from 44 original member states in 1945 to 188 member states in 2014.

49 Chwieroth, Capital Ideas, p. 247.

50 Swedberg, Richard, ‘The Doctrine of Economic Neutrality of the IMF and the World Bank’, Journal of Peace Research, 23: 4 (1986), pp. 377–90CrossRefGoogle Scholar; Tanzi, Vito, Argentina, An Economic Chronicle (New York: Jorge Pinto, 2007), pp. 19–20Google Scholar.

51 In Kedar, The International Monetary Fund and Latin America, I show that in the Argentine case, the WHD was in most cases surprisingly flexible and pragmatic, even when Argentina did not fulfil the conditions stipulated in various SBAs.

52 The IMF followed the composition of Allende's team closely and prepared lists indicating the ministers' political affiliation: see ‘First Cabinet of Chilean President Salvador Allende, 3 Nov. 1970’, WHD-Chile, Box # 49, Folder 2, IMF Archives.

53 Chwieroth, Jeffrey , ‘“The Silent Revolution”: How the Staff Exercise Informal Governance over IMF Lending’, Review of International Organizations, 8: 2 (2013), pp. 265–90CrossRefGoogle Scholar.

54 Agnic, Ozren, Allende, el hombre y el político: memorias de un secretario privado (Santiago: RIL Editores, 2008), p. 204Google Scholar.

55 ‘Alfonso Inostroza asumió la presidencia del Banco Central’, El Mercurio, 6 Nov. 1970.

56 Del Canto to Inostroza, 14 April 1971, WHD-Chile, Box 49, Folder 2, IMF Archives.

57 Central Bank of Chile, available at http://www.bcentral.cl/eng/about/functions/08c.htm.

58 Del Canto to Managing Director, ‘Recent Modifications to Chile's Exchange Regulations', 23 Dec. 1970, WHD-Chile, Box 49, Folder 2, IMF Archives.

59 Ibid.

60 Ibid.

61 State Department, ‘Memorandum for Mr Henry A. Kissinger. The White House’, 4 Dec. 1970, S/S 16364, 52–53, National Security Archive, available at www2.gwu.edu/~nsarchiv/NSAEBB/NSAEBB8/docs/doc20.pdf.

62 Phone Conversation no. 517–020, Richard Nixon, Henry Kissinger and John B. Connally, June 11, 1971, in The Nixon Administration's Response to Salvador Allende and Chilean Expropriation, available at http://nixontapeaudio.org/chile/chile.pdf.

63 Fernando A. Vera to Managing Director and Deputy Managing Director, ‘Visit to Chile’, 3 Feb. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

64 Ibid.

65 Ibid.

66 Ibid.

67 Ibid.

68 Ibid.

69 Ibid.

70 Ibid.

71 Ibid.

72 ‘Chile – Staff Report and Proposed Decision for the 1971 Art. XIV Consultation’, 11 Aug. 1971, SM/71/209, IMF Archives.

73 Ibid.

74 Ibid.

75 ‘Observaciones del Banco Central de Chile al informe del personal del FMI sobre consultas del Art. XIV con Chile, 1971’, (no date) WHD-Chile, Box 49, Folder 3, IMF Archives.

76 Marshall to Barnouin, Note, 5 Oct. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

77 Ibid.

78 The quotation is from Carlos Sansón to Acting Managing Director, ‘Mission to Chile, 7 Nov.–6 Dec.’, 11 Dec. 1973, WHD-Chile, Box 50, Folder 4, IMF Archives.

79 Marshall to Barnouin, Note, 5 Oct. 1971.

80 Del Canto to Azocar, Confidential Office Memorandum, ‘Chile: Post-Mortem on the question of Use of IMF data on Reserves by the Press', 20 Oct. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

81 Ibid.

82 Jay Reid to Del Canto, Office Memorandum, ‘Chile's Reserves and the Press', 21 Oct. 1971; Del Canto to Reid, Confidential Office Memorandum, ‘Chile – Flow of Information for International Financial Statistics', 22 Oct. 1971, both in WHD-Chile, Box 49, Folder 3, IMF Archives.

83 Barnouin to Dannemann, ‘Letter Mr. Marshall – Chile’, 29 Oct. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

84 Barnouin to Del Canto, ‘Telephone Conversation with Jorge Marshall’, 29 Oct. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

85 Ibid.

86 Vera to Del Canto, ‘Chile’, 5 No. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

87 Ibid.

88 Ibid.

89 Barnouin to Managing Director and Executive Managing Director, ‘Mission to Chile, November 10–16, 1971’, 19 Nov. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

90 Ibid.

91 Ibid.

92 Enrique Cosio-Pascal, ‘The Emerging of a Multilateral Forum for Debt Restructuring: The Paris Club’ (UNCTAD Discussion Papers, no. 192, Nov. 2008), pp. 1–12.

93 Barnouin to Managing Director and Executive Managing Director, ‘Mission to Chile, November 10–16, 1971’, 19 Nov. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

94 Ibid.

95 Ibid.

96 Ibid.

97 Ibid.

98 Ibid.

99 Barnouin to Vera, ‘Chile – Debt Renegotiation’, 24 Nov. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

100 On copper nationalisation, see, among others, Brands, Hal, ‘Richard Nixon and Economic Nationalism in Latin America: The Problem of Expropriations, 1969–1974’, Diplomacy and Statecraft, 18: 1 (2007), pp. 215–35CrossRefGoogle Scholar.

101 Barnouin to Vera, ‘Chile – Debt Renegotiation’, 24 Nov. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

102 Chilean Embassy in Washington DC to the IMF Managing Director, 29 Nov. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

103 Confidential, ‘Chile – Use of Fund Resources', Prepared by the Research Department and the Western Hemisphere Department (In consultation with the Exchange and Trade Relations, the Legal, and the Treasurer's Departments), 3 Dec. 1971, EBS/71/325, IMF Archives.

104 Cable, IMF to Chile Central Bank, 10 Dec. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

105 Cable, Reuter to Western Hemisphere Department, 31 Dec. 1971, WHD-Chile, Box 49, Folder 3, IMF Archives.

106 Fund Staff Mission to Chile, 28 Dec. 1971, EBD/71/442, IMF Archives.

107 Confidential Briefing for Mission, 27 Feb. 1972, WHD-Chile, Box 50, Folder 1, IMF Archives.

108 Ibid.

109 See, for example, Herman, Barry, Ocampo, José Antonio and Spiegel, Shari (eds.), Overcoming Development Country Debt Crisis (Oxford: Oxford University Press, 2010), p. 239CrossRefGoogle Scholar; Clarín (Chile), 23 April 1972 (reprinted in Los mil días de Salvador Allende, pp. 365–6).

110 Confidential Briefing for Mission, 27 Feb. 1972, WHD-Chile, Box 50, Folder 1, IMF Archives.

111 Ibid.

112 In 1965 the IMF adopted a similar strategy while helping Argentina reschedule its debts with the Paris Club: see Heras, Raúl García, El Fondo Monetario Internacional y el Banco Mundial en la Argentina (Buenos Aires: Lumiere, 2008), pp. 120–45Google Scholar.

113 Confidential Briefing for Mission, 27 Feb. 1972, WHD-Chile, Box 50, Folder 1, IMF Archives.

114 Office Memorandum, Del Canto to Managing Director, ‘Briefing for Visit to Chile’, 13 April 1972, WHD-Chile, Box 50, Folder 1, IMF Archives. In March 1972 Ambassador Letelier informed the US State Department that an IMF mission was assisting Chile in the elaboration of ‘acceptable alternatives to a stand-by’: see ‘Conversation between Ambassador Letelier and Dept Asst Secretary Crimmins', telegram from Department of State, 9 March 1972, Box 1149, General Records of the Department of State, Subject Numerical Files, 1970–1973 Economic, INCO 15–2, RG 59, U. S. National Archives and Records Administration.

115 Confidential Action Memorandum, The President's Assistant for National Security Affairs (Kissinger) to President Nixon, Attached to a memorandum from Hormats to Kissinger, 4 Oct. 1971, National Archives, Nixon Presidential Materials, NSC Files, Agency Files, Box 289, Treasury, Volume II 1971. Confidential. SUBJECT: U. S. Expropriation Policy in Multilateral Institutions, available at http://2001-2009.state.gov/r/pa/ho/frus/nixon/iv/15575.htm.

116 Harmer, Allende's Chile, pp. 161–3.

117 Alberto Eguren to Enrique Lerdau, ‘Back-to-office-report – Paris Club Meeting on Chile's External Debt’, 13 April 1972; file unit 1596218, World Bank Archives.

118 ‘Agreement on Chile's Debt Reportedly Signed in Paris', Washington Post, 20 April 1972; ‘Agreement on Rescheduling Foreign Debt’, The Times, 20 April 1972; Office Memorandum, David Finch and Barnouin to Managing Director, ‘Final Chilean Debt Meetings: Paris, April 17–19’, 21 April 1972, WHD-Chile, Box 50, Folder 1, IMF Archives.

119 Ibid.

120 Ibid.

121 Barnouin to Del Canto, Office Memorandum, ‘Telephone conversation with Jorge Marshall’, 30 June 1972, WHD-Chile, Box 50, Folder 1, IMF Archives.

122 Ibid.

123 Ibid.

124 Until 1973 1 SDR was equivalent to US$1.

125 Confidential Office Memorandum, Managing Director to Members of the Executive Board, 28 July 1972, WHD-Chile, Box 50, Folder 1, IMF Archives; Chile – Gold Tranche Purchase Transaction, 27 July 1972, EBS/72/245, IMF Archives.

126 Walter Robicheck to Barnouin, Office Memorandum, ‘Negotiations with Chile’, 17 Aug. 1972, WHD-Chile, Box 50, Folder 2, IMF Archives.

127 Office Memorandum, Barnouin to Del Canto, Meeting with Ambassador Letelier, 3 Nov. 1972, WHD-Chile, Box 50, Folder 2, IMF Archives.

128 Ibid.

129 Ibid

130 Ibid.

131 Cable, Chile Central Bank to Interfund, 14 Dec. 1972, WHD-Chile, Box 50, Folder 2, IMF Archives.

132 Office Memorandum, Barnouin to Del Canto, ‘Chile – Export Performance and Second Use of Compensatory Financing Facility’, 10 Nov. 1972, WHD-Chile, Box 50, Folder 2, IMF Archives; Confidential, Secretary to Members of Executive Board, ‘Chile – Use of Fund Resources', 13 Dec. 1972, EBS/72/388, IMF Archives.

133 Cable, Interfund to Chilean Central Bank, 20 Dec. 1972, WHD-Chile, Box 50, Folder 2, IMF Archives.

134 Office Memorandum, Barnouin to Del Canto, ‘Fund Participation in the next Chilean debt meeting’, 5 April 1973, WHD-Chile, Box 50, Folder 3, IMF Archives.

135 ‘Briefing for Mission to Chile’, Approved by Del Canto and David Finch, 16 April 1973, WHD-Chile, Box 50, Folder 3, IMF Archives.

136 Confidential, ‘Staff Report for the 1973 Article XIV Consultation’, Approved by Jorge Del Canto and David Finch, 13 June 1973, SM/73,141, IMF Archives.

137 ‘Supplementary Staff Report and Amended Proposed Decision for the 1973 Article XIV Consultation’, Approved by Del Canto and David Finch, 3 July 1973, SM/73,141 Supplement 1, IMF Archives.

138 Ibid.

139 ‘Briefing for mission to Chile’, 16 April 1973.

140 Ibid.

141 Confidential Letter, Eduard Brau to Managing Director, ‘Chilean Debt Meeting – Paris, July 12–13’, 19 July 1973, WHD-Chile, Box 50, Folder 3, IMF Archives.

142 Ibid.

143 Office Memorandum, Barnouin to Del Canto, ‘Fund Visit to Chile’, 5 Sept. 1973, WHD-Chile, Box 50, Folder 4, IMF Archives.

144 Office Memorandum, Linda Koenig to Del Canto, ‘Fund Visit to Chile’, 10 Sept. 1973, WHD-Chile, Box 50, Folder 4, IMF Archives.

145 Cable, Barnouin to Del Canto, 12 Sept. 1973, WHD-Chile, Box # 50, Folder 4, IMF Archives.

146 Kedar, Claudia, ‘Chronicle of an Inconclusive Negotiation: Perón, the IMF, and the World Bank, 1946–1955’, Hispanic American Historical Review, 92: 4 (2012), pp. 637–68CrossRefGoogle Scholar.