Dirty War/Dirty Loans: Bank Lending and Human Rights Violations during the 1976 -1983 Argentine Military Dictatorship

Abstract

This thesis explores the relationship between international bank lending and human rights violations during the 1976-1983 Argentine military dictatorship, commonly known as the Dirty War. It describes the roots of the dictatorship and the regime’s successful efforts to establish relationships with U.S., European and Asian commercial banks, as well as the World Bank and International Monetary Fund. The regime fought a self-described war against domestic insurgents and engaged in widespread repression, including institutionalized torture and murder. The thesis demonstrates that lenders were aware of the repression while they were providing financing and that they focused on other factors to justify loan decisions, including avowed political neutrality. The thesis also investigates the impact of various U.S. presidential administrations on the regime’s behavior and its ability to borrow from the international banking community. Despite differing U.S. approaches to human rights during the dictatorship, bank lending continued without disruption as the dictatorship’s neoliberal economic policies facilitated productive relationships with foreign lenders. An analysis of primary sources, scholarly research and supporting data connects bank lending with the regime’s ability to remain in power. There is substantial scholarship available on the Dirty War period, but limited research on the impact of bank lending. The thesis offers insights into the complicity of lenders on the perpetuation of human rights violations during the Dirty War