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Guinea's Economic Performance Under Structural Adjustment: Importance of Mining and Agriculture
Published online by Cambridge University Press: 11 November 2008
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Domestic policy inadequacies have been targeted by the World Bank and the International Monetary Fund (IMF) as the main reason for poor economic performance in sub-Saharan Africa generally.1 The structural adjustment programmes (SAPs) sponsored by these international financial institutions (IFIs) over the past decade have sought to rectify such policies. But many countries following their advice have continued to experience economic decline, albeit according to the World Bank, as a result primarily of their failure to properly implement the recommended reforms. It was argued in the late 1980s and early 1990S that governments pursuing strong adjustment programmes, even in the face of inhospitable world economic conditions, still outperformed weak reformers.2 This analysis does not hold with the same weight for all African countries. In the case of Guinea, external factors have been equally important in explaining its economic record under adjustment.
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References
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35 It should be recalled that the sites of Tougué and Dabola have been the object of considerable interest in the past, as illustrated by the various exploratory agreements signed over the years: with Alusuisse in February 1971, Energyprojekt in April 1971, and with both in April 1974, while subsequent negotiations have involved Algeria. For more details, see Campbell, Les Enjeux de la bauxite, pp. 106–7.
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38 Guinea: mining sector review, p. 15.
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