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FINANCIAL SECTOR LIBERALIZATION AND THE …

0 FINANCIAL SECTOR LIBERALIZATION AND THE POOR: A CRITICAL APPRAISAL THERESA MOYO SAMCAF 5 THORNBURG AVENUE MT PLEASANT BOX MP 178 HARARE ZIMBABWE FOR THE SAPRI ZIMBABWE INITIATIVE POVERTY REDUCTION FORUM 1 1. Introduction The liberalisation of the FINANCIAL SECTOR in Zimbabwe was an integral part of the Economic Structural Adjustment Programme (ESAP), a programme which was introduced by the government in 1991. It was aimed at restructuring the economy from a predominantly state-interventionist type of economic management towards a more market-driven system. The adoption of the ESAP and its successor programmes, namely the Zimbabwe Programme of Economic and Social Transformation (ZIMPREST) for the period 1996-2000, was a notable trend in most African countries where the failure of socialist experiments and other models of state management of the economy, led to a situation where countries had to resort to the World Bank and the International Monetary Fund (IMF) for FINANCIAL support.

0 financial sector liberalization and the poor: a critical appraisal theresa moyo samcaf 5 thornburg avenue mt pleasant box mp 178 harare zimbabwe

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