HIST 2211 Lecture Notes - Lecture 17: Hassan Ii Of Morocco, Structural Adjustment
4 Apr 2016
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1970s: era of many third world countries borrowing money to develop their industries. Morocco does not have oil but it does have phosphates, the price of which spiked in the 1970s. 30 march 2016: the king saw this as morocco"s own oil boom and invested in state owned economy, tried to employ a lot of people. 1980s: due to global recession, reasonable borrowing turned into a debt crisis and the imf had to step in and begin a slow process of structural adjustment. The prices of many food items were kept artiicially low too keep the working class urban population satisied in the 70s: they began to rise in the 80s. Austerity measures were put in place in the 80s that caused massive protests and riots. Hassan ii king of morocco in the 1970s. Marxists were a big threat to the monarchy of morocco in the 1960s and 70s.
