The current political and economic trends in Latin America transformed power relationships between donors and recipient countries. Advancing Governance in the South takes the lessons from the unfolding power relations and the conditions under which the International Financial Institutions (IFIs) promoted governance reforms in Argentina since the 1990s and extend the analysis to the challenges and dilemmas for the IFIs in face of the most recent redefinition of political and economic governance at the regional scale. In the process it explores what 'power' currently means in the relationship between the IFIs and local actors in developing countries and the analytical implications for broader analysis of the tensions between sovereign authority, policy processes and externally-driven demands.
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