GEOGUNIT3: Development- Role of World bank/IMF in development

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Uganda and the IMF/World bank

  • The IMF agreed to assist Uganda by lending them money when Uganda's economy was in serious debt. However, the IMF would only do so if Uganda underwent a programme of structural adjustement- (a combined package of cuts in goevrnment spending, free trde, and privatisation)
  • This involved trade liberation (free trade), by reducing import tariffs and export taxes.
  • 82% of Ugandans earn a living through farming, and free trade had the greatest impact on them. Many people decided to switch from subsistence to cash crops, such as…

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