1 The historical and geographical circumstances surrounding the development of the Calvo Doctrine and of the Calvo Clause may help better understand both. Carlos Calvo (1824–1906) was born in Buenos Aires, at a time when Argentina had just achieved independence from Spain. Preservation of its sovereignty was thus one of the main concerns of the new nation, as it continued to be for quite a while, a shown by the Drago Doctrine (1902) (Debts; see also Drago-Porter Convention ). These concerns came to be shared by other Latin American States, and gave rise to...
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