Guillermo Zubaran, 48, executive director for Argentina and Chile of the Inter-American Development Bank here, was killed Wednesday in a plane crash in southern Chile, a bank official said Friday.

The spokesman said the crash occured on Navarino Island near the Straits of Magellan, near where Mr. Zubaran was going on bank business.

Also killed in the crash were Raoul Ondarts, president of Yacimientos Petroliferos Fiscales, the Argentine state petroleum agency, and Carlos Sureda, the vice president of Hidroelectrica Norpatagonica Sociedad Anonima (HIDROR), a state hydroelectric agency. The spokesman said the plane's crew were among the victims.

Mr. Zubaran was born in Buenos Aires. He was an accountant and economist by training and had specialized in energy problems during most of his career.

He taught at several universities and special institutions in South America and directed work on a five-volume publication called "Analysis of the Argentine Energy Situation and Its Outlook Until 1980." He also held several government posts in Argentina. He was secretary of state for energy there in 1976 and 1977. In 1977 he joined the Inter-American Development Bank here.

Survivors include his wife, Maria Cristina, and two sons, Guillermo and Francisco Javier, all of Bethesda.