the state marketing institution, Agricultural Development and Marketing Corporation (ADMARC) in agricultural markets and removing price intervention policies, thus allowing markets to freely determine prices. Before liberalization, ADMARC had monopsony power in agricultural markets, particularly maize markets (Ephraim Wadonda Chirwa, 1999), the institution was also responsible for implementing government pricing policy (Ephraim Wadonda Chirwa, 1999, pp 5). IFIs however viewed state marketing boards…
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