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 Periodical article |
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| Title: | Debt, Development and Democracy: The IMF Post-Apartheid South Africa |
| Author: | Padayachee, Vishnu |
| Year: | 1994 |
| Periodical: | Review of African Political Economy |
| Volume: | 21 |
| Issue: | 62 |
| Pages: | 585-597 |
| Language: | English |
| Geographic term: | South Africa |
| Subjects: | democracy African National Congress (South Africa) IMF Economics and Trade Development and Technology Politics and Government international relations |
| External link: | https://www.tandfonline.com/doi/abs/10.1080/03056249408704089 |
| Abstract: | This article examines various aspects of South Africa's recent relations with the IMF in the context of developments such as the December 1993 IMF Compensatory and Contingency Financing Facility, the finalization of the ANC's Reconstruction and Development Programme (RDP) in March 1994, and the election of South Africa's first democratic government in April 1994. The approach adopted is critical of aspects of the way in which the ANC has dealt with the Fund to date. The author argues that unless a more coherent and defined approach to relations with the IMF is developed, the realization of the kind of economic development programme set out in the RDP may eventually founder on the rocks of the IMF's familiar orthodoxy. The article examines the following specific issues: the way in which the ANC has dealt with the IMF to date, the IMF's policy proposals for South Africa, how IMF policies relate to the RDP, the 1994/95 budget in relation to the RDP, what can be done to defend the RDP against the IMF, and finally the dangers of IMF-type policy advice for South Africa's fledgling democracy. Bibliogr., sum. |
