Public Debt and Private Wealth

This study analyses the IMF's role in sub-Saharan foreign debt and structural adjustment issues. A detailed analysis concentrating upon Sudan disproves assumptions about the IMF's capacity to enforce its much-touted, tough policy conditions, and about the inability of defaulting countries to maintain capital inflows, even when in arrears to the IMF itself. The study also examines IMF and World Bank analysis and the efficacy of their policies given the substantial unrecorded foreign exchange inflows and outflows associated with unofficial migrant remittances, the parallel economy and capital flight.

Autorentext

Richard P.C. Brown

Zusammenfassung
A detailed analysis concentrating upon Sudan disproves assumptions about the IMF's capacity to enforce its much-touted, tough policy conditions, and about the inability of defaulting countries to maintain capital inflows, even when in arrears to the IMF itself.

Inhalt
Table of Contents - List of Tables - Acknowledgements - Map of Sudan - Introduction - The Dimensions and Origins of Sub-Saharan Africa's Debt - The Evolution of the IMF's Role in Sub-Saharan Africa - Background to Sudan's Economic Crisis of the 1980s - The Evolution of the IMF's Role in Sudan: 1978-84 - Managing the Unmanageable: Sudan Without the IMF after 1984 - Sudan's Hidden Adjustments: Implications for IMF Diagnosis and Policy - Conclusions - Appendix - Bibliography - Index