Did the monroe doctrine set the foundation for us imperialism in latin america?

The Monroe Doctrine, in its formal aspect, intended to position the US as a continental leader capable of guaranteeing the sovereignty of the Latin American nations against the European powers. Among other principles, this doctrine held that no American nation could be recolonized. Moreover, it ruled the economic autonomy of these same nations, pointing out that Europe could not interfere in the businesses established by the nations of America.

However, this principle of continental political autonomy and sovereignty was contrary to the need that some leaders saw to broaden the areas of US economic influence. Thus, the leadership stance was eventually reinterpreted as a means by which the United States could support Latin American nations with the clear interest of fixing their economic interests.