The Cartagena Consensus: Redefining Repayment Capacity as a Political Economy Issue, Not a Technocratic One

Juan Pablo Bohoslavsky (), Francisco Cantamutto and Christina Laskaridis
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Juan Pablo Bohoslavsky: Argentina’s National Scientific and Technical Research Council of Argentina (CONICET) - Universidad Nacional de Río Negro
Francisco Cantamutto: IIESS (UNS-CONICET)
Christina Laskaridis: London School of Economics and Political Science City

Development, 2024, vol. 67, issue 3, 131-138

Abstract: Abstract This article uses a historical case study – the so-called Cartagena Consensus during the eighties in Latin America and the Caribbean – to document the historical experience of coordination among debtor countries. Using primary and secondary sources, this piece shows how historical attempts to fight the creditors have also focused on re-defining debt repayment capacity. In doing so, the article shows how much of a political project the definition of repayment capacity is, rather than a technical one. This bears relevance for the urgent need to redefine current practice of and consensus building strategies around debt sustainability analysis.

Keywords: Sovereign debt; Debt sustainability; Debtors’ coordination; Latin America (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1057/s41301-025-00441-x

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