Uganda: contradictions of the IMF programme and perspective
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Date
1991
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Willey
Abstract
In his article ‘Uganda: Contradictions of the IMF Programme and
Perspective’, published in Development and Change in July 1990,
Professor Mamdani sought to criticize the stabilization and structural adjustment programme in Uganda through its immediate
economic consequences; through a longer term historical analysis
raising more fundamental issues of social transformation; and
through a comparative discussion using South East Asian development experience (Mamdani, 1990: 427).
Considerations of space limit the scope of this comment to
pointing out that the economic analysis of his article is weak and,
in particular, the analysis of the effect of official exchange rate
devaluation is incorrect. However, because his analysis of the
economics of stabilization underpins the analysis of wider social
issues, the faulty economic analysis calls into question the validity
of his overall conclusions.
The economic crisis in Uganda is the cumulative result of specific
events since the early 1970s - albeit in a wider historical context.
But the immediate problem in Uganda is economic: a severe fiscal
crisis combined with a persistently fragile balance of payments position. Such disequilibria are unsustainable and must be corrected.
With or without the IMF, no country can escape the constraint of
making ends meet. It is essential that this process of adjusting to
meet changed circumstances takes place in an orderly manner so
that the benefits of managed change are realized at least cost to
Description
Keywords
Uganda, IMF programme, Contradictions
Citation
Tumusiime‐Mutebile, E. (1991). Uganda: Contradictions of the IMF Programme and Perspective: A comment. Development and Change, 22(2), 339-349.