On the Economic Security of Latin American Countries in the Situation of Loans and Credits from International Financial Organizations

   Relevance. The Latin American region is distinguished by many different integrations and associations for the development of the economy and security of all countries, but many of these initiatives remain on paper. At the insistence of the beginning of 2020, small economic associations of countries such as MERCOSUR, the Pacific Alliance, CARICOM, which are larger than the two previously mentioned associations, actually operate in the region. Economic sustainable development and financial dependence on external loans of the region under consideration remains the main unresolved problem of the LACB region.
   The purpose is to conduct a comparative analysis of the external financial dependence of Latin American countries on international financial organizations as a threat to the economic security of countries.
   Objectives: consider approaches to the definition of "economic security" in the strategic documents of individual countries; analyze the degree of financial dependence of Latin American countries on the basis of economic indicators; draw conclusions about the degree of economic security of Latin American countries in the short term.
   Methodology. The article uses the method of statistical analysis of economic indicators (real GDP, special drawing rights, quota) of relations between Latin American countries and the IMF, the World Bank, the BRICS bank, used the method of comparative analysis of indicators of financial dependence of Latin American countries on external lending for the period of 2020, illustrative-graphic method.
  Results. For Latin American countries, financial dependence on external loans and credits is not included in the understanding of economic security, although in fact it affects the internal economic development of states. Dependence on external loans for these countries is traditional, and representatives of the IMF actively use this, trying to prevent representatives of other credit financial institutions from entering this region.
  Conslusions. One of the main areas that ensure economic security is the financial and monetary sphere. In the financial sector, there is a tendency for the countries of the LACB region to take loans and not account for the implementation of the financial assistance received. Asian banks have great potential in the blissful future.

1. Ukreplenie ekonomicheskoi i natsional'noi bezopasnosti SShA [Strengthening the economic and national security of the United States]. Available at: https://www.commerce.gov/about/strategicplan/strengthen-us-economic-and-national-security. (accessed 22.05.2022)

2. Pokazateli kachestva zhizni – ekonomicheskaya bezopasnost' i fizicheskaya bezopasnost'. Poyasnitel'naya zapiska k statisticheskomu sborniku [Quality of life indicators ‒ economic security and physical security. Explanatory note to the statistical collection]. Available at: https://ec.europa.eu/eurostat/statistics-explained/pdfscache/30565.pdf. (accessed 02.05.2022)

3. Kondrat E. N. Kontseptsiya natsional'noi bezopasnosti Podnebesnoi: traditsionnaya i vseob"emlyushchaya natsional'noi respubliki [The concept of national security of the Middle Kingdom: traditional and comprehensive national republic]. Yuridicheskaya nauka: istoriya i sovremennost' = Legal Science: History and Modernity, 2017, no. 4, pp. 143‒163.

4. O Strategii ekonomicheskoi bezopasnosti Rossiiskoi Federatsii na period do 2030 goda [On the Economic Security Strategy of the Russian Federation for the period up to 2030]. Decree of the President of the Russian Federation of May 13, 2017 № 208. Available at: https://www.garant.ru/products/ipo/prime/doc/71572608/. (accessed 15.05.2022)

5. Ekonomicheskaya bezopasnost' sposobstvuet schast'yu i terpimosti, a takzhe sposobstvuet rostu i razvitiyu [Economic Security Promotes Happiness and Tolerance and Promotes Growth and Development]. Available at: https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_006157/lang--es/index.htm. (accessed 17.05.2022)

6. Ekonomicheskaya bezopasnost' i bednost' v starosti: napryazhennost', proyavleniya i vyzovy napryazhennost', vyrazheniya i vyzovy dlya polyusov politiki [Economic security and poverty in old age: tensions, manifestations and challenges tensions, expressions and challenges for policy poles]. Available at: https://www.cepal.org/sites/default/files/events/files/huenchuan_guzman_ppt.pdf. (accessed 24.05.2022)

7. Strategicheskii plan Pravitel'stva Respubliki Panamy 2015-2019 gg. [Strategic Plan of the Government of the Republic of Panama 2015-2019]. Available at: https://observatorioplanificacion.cepal.org/sites/default/files/plan/files/PanamaPlanEstrategicodeGobierno.pdf. (accessed 22.05.2022)

8. Martynov B. F. Istoriya mezhdunarodnykh otnoshenii stran Latinskoi Ameriki i Karibskogo basseina (XX- nachalo XXI vv.) [History of international relations of the countries of Latin America and the Caribbean (XX-beginning of the XXI centuries)]. Moscow, Aspect Press Publ., 2019. 320 p.

9. Kvoty v MVF [Quotas in the IMF]. Available at: https://www.imf.org/ru/About/Factsheets/Sheets/2016/07/14/12/21/IMF-Quotas. (accessed 26.05.2022)

10. Peru and the IMF. Available at: database imf.org/en/Countries/PER. (accessed 26.05.2022)

11. Summary of the NDB Budget for 2020. Available at: https://www.ndb.int/data-anddocuments/summary-of-budget/. (accessed 30.05.2022)

12. Loan supports Asia-Ecuador trade during COVID-19. Available at: https://www.aiib.org/en/news-events/news/2020/AIIBs-Debut-Financing-in-Latin-America-Helps-Ease-Ecuador-Firms-LiquidityAccess.html. (accessed 30.05.2022)

13. Godovoi otchet MVF [IMF Annual Report]. Available at: https://www.imf.org/external/pubs/ft/ar/2020/eng/downloads/imf-annual-report-2020-ru.pdf. (accessed 30.05.2022)

14. Argentina and the IMF. Available at: https://www.imf.org/en/Countries/ARG. (accessed 30.05.2022)

15. The World Bank in Latin America and the Caribbean. Available at: https://www.worldbank.org/en/region/lac. (accessed 26.05.2022)

16. Summary of the NDB Budget for 2020. Available at: https://www.ndb.int/data-anddocuments/summary-of-budget/. (accessed 29.05.2022)

17. Loan supports Asia-Ecuador trade during COVID-19. Available at: https://www.aiib.org/en/news-events/news/2020/AIIBs-Debut-Financing-in-Latin-America-Helps-Ease-Ecuador-FirmsLiquidity-Access.html. (accessed 25.05.2022)

18. Marinez P. A. El Gran Caribe ante los Cambios Internacionales y la Politica Exterior Doctrina. Santo Domingo, Fundacion Global Democracia y Desarrollo, 2019. 319 p.

19. Fred Bergsten. Available at: https://www.hmong.press/wiki/Fred_Bergsten. (accessed 30.05.2022)

20. Nemina P., Larralde J. Etapas historicas de la relacion entre el FMI y America Latina (1944-2015). America Latina en la Historia Economica, 2018, ene.-abr., pp. 275-313.

21. El FMI en America Latina: el controvertido rol del egionm en grandes crisis economicas en la egion y el resto del mundo. Available at: https://www.bbc.com/mundo/noticias-america-latina-50031338. (accessed 11.05.2022)

22. After bitter breakaway a decade ago, Argentina returns to the IMF fold. El Pais. Madrid, 2016.