When was General Augusto Pinochet born?
Augusto Pinochet
Financial conglomerates became major beneficiaries of the liberalized economy and the flood of foreign bank loans. Large foreign banks reinstated the credit cycle, as debt obligations, such as resuming payment of principal and interest installments, were honored. International lending organizations such as the World Bank, the International Monetary Fund, and the Inter-American Development Bank lent vast sums anew.[70] Many foreign multinational corporations such as International Telephone and Telegraph (ITT), Dow Chemical, and Firestone, all expropriated by Allende, returned to Chile.[70] Pinochet's policies eventually led to substantial GDP growth, in contrast to the negative growth seen in the early years of his administration. Foreign debt also grew substantially under Pinochet, rising 300% between 1974 and 1988.