Vargas’ rule and international bankers: the financial diplomacy and negotiations on payments of external public debt (1930-1945)

Abstract

The article analyzes the negotiation process between representatives of the government of Getúlio Vargas and the creditors of foreign public debts. In order to understand the process in its complexity, we endeavor to map and identify the names of the agents and agencies in which such negotiations took place. We identified the financial groups that made up the pressure blocs acting upon the Vargas government and how it organized itself politically and economically to renegotiate the terms of payment of the bonds of external public debts in an environment marked by the course of the Economic Depression, the rise of Nazifascism, and World War II. The methodology we used consisted of theoretical study and empirical analysis.