Winners All: Negotiating Finance for Development
Did the procedures of Sub-Saharan Africa’s debt talks fulfil the aims of their participants in 1980–8?
If not, why not?
Which participants have the power to change the process?
How can they do so, to the benefit of all sides?
The conclusions to Chapters 2–7 answered the first three. The participants had different undeclared short-term and narrow aims. The IMF and World Bank wanted to see their programmes implemented and their loans repaid on time. Creditor governments and commercial creditors also wanted programmes implemented; to be repaid as fast as possible — if necessary at the expense of other creditors; and to support governments which were allies, ex-colonies or trading or investment partners. Debtor governments wanted to stay in power and (usually) economic growth mixed with (in some cases) personal economic gain.
KeywordsFatigue Europe Income Assure Expense
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