The role and influence of the IMF on economic policy in South Africa’s transition to democracy: the 1993 Compensatory and Contingency Financing Facility revisited

  title={The role and influence of the IMF on economic policy in South Africa’s transition to democracy: the 1993 Compensatory and Contingency Financing Facility revisited},
  author={Vishnu Padayachee and Benjamin Fine},
  journal={Review of African Political Economy},
  pages={157 - 167}
SUMMARY Many commentators have pointed to the 1993 International Monetary Fund (IMF) loan, which occurred on the eve of South Africa’s democratic elections, as a key factor in explaining the shift in African National Congress (ANC) economic policy in the 1990s. This argument is now invariably taken for granted. Little understanding of the nature of the Compensatory and Contingency Financing Facility (CCFF) is displayed, nor has any hard evidence been produced to back this argument. Drawing upon… 
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