The Colombia-IMF Disagreement of November-December 1966

An Interpretation of Its Place in Colombian Politics

by Richard L. Maullin

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An analysis of the interplay between politics and economics in Colombia. The Colombian president must seek support from two political systems: one, the classical or conservative; the other, pragmatic and industrial, concerned with economic development. The actions of President Carlos Lleras Restrepo in his handling of the Colombian foreign exchange crisis and in his dealing with the International Monetary Fund are examined from the perspective imposed by these conflicting political systems. Lleras' skillful exploitation of a disagreement with the IMF has succeeded in arousing public support for his economic development program that will assist him in avoiding the restraints and compromises imposed by the traditional party politicians in Congress who helped to elect him to the presidency.

This report is part of the RAND Corporation research memorandum series. The Research Memorandum was a product of the RAND Corporation from 1948 to 1973 that represented working papers meant to report current results of RAND research to appropriate audiences.

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