Chilean independence debt
| Economic history of Chile |
|---|
 |
The Chilean independence debt was a debt obtained from a large loan the nascent republic of Chile obtained in the last years of its independence war. The loan was obtained in London in 1822 by the government of Bernardo O'Higgins.[1] To address the debt Minister of Finance Manuel Rengifo made first a study to identify all debts incurred before 1830.[2] Chilean agent Francisco Javier Rosales was sent to London to negotiate the payments of the debt in 1836.[2] He was however unable to reach an agreement with the creditors.[2]
Exports of Chilean silver alongside copper and wheat were instrumental to help Chile prevent default in the 1830s and 1840s.[2] Joaquín Tocornal who succeeded Rengifo as Minister of Finance paid off all the default and refused at the time to take new loans.[2]
See also
[edit]References
[edit]- ^ "La deuda pública externa de Chile (1810-2004)" [The external public debt of Chile (1810-2004)]. Memoria Chilena (in Spanish). Biblioteca Nacional de Chile. Retrieved May 18, 2022.
- ^ a b c d e Pérez Herrero, Pedro (2015). "El orden portaliano (1830-1840)". In Pérez Herrero, Pedro; Sanz, Eva (eds.). Fiscalidad, integración social y política exterior en el pensamiento liberal atlántico (1810-1930) (in Spanish). pp. 237–238. ISBN 978-84-9123-174-5.