POSTNEOLIBERALIM INTHE ANDES: ECUADORIAN MANAGEMENT OF ITS EXTERNAL DEBT

Description: The management of debt has probably been the key space of interrelations in order to understand the logic of neoliberal policies in the second half of the past century. After the end of the Bretton Woods system of fixed exchange rates in 1971 and the liberalisation of financial capital, the developing countries found easy access to private credit and resources. However, as the crisis in the early 1980s exploded, the International Financial Institutions ? the IMF and the World Bank ? have been the guardians of private debt payments, rather than the supporters of its indebted member states. Then, the structural reforms and the so-called Washington Consensus ?recommendations? were crucial and coercive policy tools imposed on the global south until nowadays through conditionality. In this context, Latin American states and particularly Ecuador have been involved in several processes of debt default and restructuring, trapped in a way-out strategy.

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