An approach to the Montes de Oca-Lamont agreement from the perspective of financial diplomacy

Abstract

Using official and private correspondence, as well as hemerography and bibliography, we seek to analyze the Montes de Oca-Lamont agreement for the restructuring of Mexico’s foreign debt between 1928 and 1931. For this, it is proposed to use the ap-
proach of the new economic diplomacy, which conceives this as a process of international negotiation, in which the Mexican representative put into practice a financial diplomacy that managed to lay the foundations of an agreement that, although it was
not ratified by the Mexican government, was useful to reach an agreement later on with the international creditors, organized in the International Committee of Bankers on Mexico. The focus proposed allows for a detailed analysis of the negotiation process and could be useful for other financial negotiation processes between the government and its creditors.