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Neoliberalism in Latin America
LATIN AMERICA STAGNANT
In the middle of the 20th century, foreign debt, poverty, economic recession, neoliberalism, and instability were accompanying Latin America.
DEBT CRISIS
Latin Americans relied heavily on government loans and international commercial banking. In addition, the external debt grew.
Mexico was unable to pay its foreign debt in 1982.
POPULAR REACTION
Neoliberalism had a bad impact on the Latin American economy. There were many layoffs of public employees. In addition, export prices fell and fuel had a higher cost.
Some people such as underemployed, unemployed and impoverished people, among others, began to protest about all these actions, and the countries were shocked.
NEOLIBERALISM IN LATIN AMERICA
The military dictatorships and the Latin American civil adopted neoliberal ideas by carrying out various privatization processes, even if the people didn't want to, and they did it with the help of the United States, the IMF, and the World Bank.
THE NEOLIBERALISM
It is a trend that allows economic growth, which is based on the free market.
The neoliberal policies were promoted by the International Monetary Fund, etc.
Economic adjustments, elimination of subsidies, reduction of public employees, and privatization of state companies were applied.
