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Vol 37 No 25

Published 13th December 1996


Nuts to the Bank

A privatised business lobby is challenging the free-marketeers from Washington

Cashew nuts are the kernel of a battle between Mozambiques emerging private sector and the World Bank. Cashews are the countrys second export (after prawns), grown by thousands of mostly small-scale farmers and previously processed by an inefficient state monopoly. No more: the monopoly has been sold off, on World Bank insistence, to six private local companies. These companies say they were robbed; that the Bank, having pushed for privatisation, is now pushing for a tax change that would cause private companies to lose money.

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