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Media type:
E-Article
Title:
Debt and Structural Adjustment in Africa: Realities and Possibilities
Contributor:
Callaghy, Thomas M.
Published:
Cambridge University Press (CUP), 1988
Published in:
Issue: A Journal of Opinion, 16 (1988) 2, Seite 11-18
Language:
English
DOI:
10.1017/s0047160700500663
ISSN:
2325-8721;
0047-1607
Origination:
Footnote:
Description:
Since the middle of the 1970s Sub-Saharan African states have focused increasingly on their severe economic and fiscal crises. These involve wrestling with the burdens of debt service and the rigors of rescheduling, conducting difficult negotiations with bilateral and private creditors, bargaining over conditionality packages with the International Monetary Fund and the World Bank or fending them off, distributing the painful costs of adjustment, coping with import strangulation and devising new development policies and strategies. Already highly dependent on the outside world, the intensity, stakes and levels of conditionality of these relations with external actors have increased substantially.