IDS Bulletin · 1988 · 12 citations · 3 references
Social SciencesAgricultural EconomicsEconomicsAgricultural FinanceDevelopment EconomicsEconomic DevelopmentAgricultural Finance PolicyAgricultural LendingBalance Of PaymentsDeficit FinancingPolicy BorrowingStructural AdjustmentBalance Of Payments FinancingImf ConditionalityPolicy Borrowing ConditionsPolicy Borrowing ConstraintsStructural Adjustment PoliciesStructural Fiscal AdjustmentWorld Bank Development PolicyWorld Bank Group
public sector. This was followed by a series of major investments of a mainly non-productive character (palaces, military aviation, a new international airport, elite private college), which were in part financed by borrowing from the Eurocurrency market. The overall balance of payments went into deficit in 1978. The final element in the making of an economic crisis was the failure of the 1979-80 season rains in the southern half of the country, which hit the smallholder maize crop especially hard.
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