05 CONCLUSION Of course, the IMF and World Bank are not the only financial institutions on the block. Indeed, China is becoming an increasingly important player due to its more flexible loan packages (Ryder and Fu, 2021). While these tend to impose fewer conditionalities, they are still focused primarily on promoting a resource driven development. However, is it precisely this resource-driven model, marked by a narrowing economic base and increasing hegemony of the extractive economy, which made African countries so vulnerable to the Covid-19 pandemic in the first place. Ultimately, Mozambique needs a people-centred development model. The conditionalities imposed by the IMF and World Bank have undoubtedly undermined the national development processes. As Plank (1993) highlighted almost 30 years ago, “the burden of the reforms has fallen disproportionately on the poor because of the reductions in subsidies, public-sector employment, and social expenditure that structural changes require” (p. 416). Yet to challenge these requires both strong global justice movement and alternative sources of financing that prioritize human development over market interests. “Ultimately, Mozambique needs a people-centred development model. The conditionalities imposed by the IMF and World Bank have undoubtedly undermined the national development processes.“ 34 Fast-tracking Financialization - International Financial Institutions’ Responses to the Covid-19 Pandemic in Mozambique