This article examines the relationship between international commercial banks and military regimes in South America. The focus is on how military regimes in the Southern Cone of Latin America and Brazil in the 1970s became heavily dependent on foreign capital provided by international banks based in Britain and France. It makes use of previously unavailable archival evidence to examine the interactions between international banks and South American governments, showing how these interactions intensified once military rule was established. It shows that international capital was used for a wide variety of purposes, including arms imports. When global banks cut loans once the debt crisis erupted in 1982, they aggravated the economic crisis but also fostered democratic change.

本文考察了国际商业银行与南美洲军事政权之间的关系。重点是 1970 年代拉丁美洲南锥体和巴西的军事政权如何严重依赖设在英国和法国的国际银行提供的外国资本。它利用以前无法获得的档案证据来检查国际银行与南美政府之间的互动，展示了一旦​​建立军事统治，这些互动是如何加强的。它表明国际资本被用于多种目的，包括武器进口。1982 年债务危机爆发后，全球银行削减贷款，加剧了经济危机，但也促进了民主变革。