Towards Ending I.M.F.-ism in Southern Africa: an Alternative Development Strategy

1 March 1989

journal article
research article
Published by Cambridge University Press (CUP) in The Journal of Modern African Studies

Vol. 27 (1) , 1-22
https://doi.org/10.1017/s0022278x00015603

Abstract

In the 1980s, a financial crisis engulfed Southern Africa. Widespread evidence exposed the way that inherited institutional structures and technologies – reinforced by International Monetary Fund (I.M.F.) conditionality – had reproduced the region's poverty and vulnerability.¹To overcome the crisis requires an alternative strategy built on theoretical foundations fundamentally different from the neo-classical models that underpin the ‘restructuring’ programmes of the I.M.F. and World Bank. The state must play a positive interventionist rôle.

Keywords

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