Peace without Profit: How the IMF Blocks Rebuilding in Mozambique (African Issues) - Tapa dura

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Mozambique has followed the IMF/World Bank prescription of structural adjustment: free market and deflation, deregulation and demand reductions. Wages, credit, and government spending have been cut. This stops the rebuilding of Mozambique in its tracks and even prevents an active role by the private sector. In 1995, donor representatives launched an unprecedented attack on the Bretton Woods institutions. Mozambique is one of the first African countries where postwar reconstruction has taken place in the context of structural adjustment. What are the lessons for Somalia, Liberia, Rwanda, Zaire, Sudan, and Angola? Hanlon explains the donor case and presents his own suggestions for finding the way forward.

Reseña del editor

• Where is the boom that should have followed the end of Mozambique's bitter war?

Postwar reconstruction is slow; the economic crisis continues. Peasants returned to the countryside, but no one came to buy their crops. Workers went back to their factories, but there was no money to buy their products. Hanlon has written widely about Mozambique; here he lays out the sad truths of the current situation.

• Deflation is the opposite of what is needed

Mozambique has followed the IMF/World Bank prescription of structural adjustment: free market and deflation, deregulation and demand reductions. Wages, credit, and government spending have been cut. This stops the rebuilding of Mozambique in its tracks, and even prevents an active role by the private sector.

• The donors have launched an attack on the excesses of stabilization

In 1995 donor representatives launched an unprecedented attack on the Bretton Woods institutions. Mozambique is one of the first African countries where postwar reconstruction has taken place in a the context of structural adjustment. What are the lessons for Somalia, Liberia, Rwanda, Zaire, Sudan, and Angola? In this book Hanlon explains the donor case and presents his own suggestions for finding the way forward. "Published in association with the International African Institute"