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This book is a study of the historical antecedents of Latin America's foreign debt, with a focus on Peru from 1930 to 1970. Written from the dependency theory perspective, the book attributes underdevelopment to chronic debt crises. It emphasizes the multilateral lending agencies' role in shaping Latin America's contemporary political economy, in cooperation with the U.S. government and multinational corporations and Latin America's local elites. This book presents a chapter in Peru's contemporary history targeted for students and scholars of Latin American studies, U.S. diplomatic history, international political economy, political science, and sociology of development.