Abstract
It is now more than five years since the Movement for Multiparty Democracy (MMD) came to power after the October 1991 World Bank and IMF “political conditionality” induced democratic elections in Zambia. Under World Bank and International Monetary Fund (IMF) tutelage, the MMD government embarked upon the most far-reaching market-led economic reforms ever seen in Zambia, under the Structural Adjustment Program (SAP). Using evidence from 43 companies and representatives of Zambian industry, this paper argues that the SAP (as implemented) has wrong-footed the manufacturing sector. The paper apportions the bulk of the blame squarely on the shoulders of the Zambian government, for the unrealistic policies and manner in which it has implemented the Neoclassical Counterrevolution Model, also known as market-based SAP reforms.
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