IMF STRUCTURAL ADJUSTMENT PROGRAMS IN AFRICA

INTRODUCTION
Beginning in 1980, the International monetary Fund (IMF) started to impose Structural Adjustment Programs (SAP) on African debtor nations. SAP’s have been imposed on 36 African Sub-Saharan countries under the assumption that neo-liberal reforms lead to economic growth and an increased standard of living.
For that reason, focus was put on macroeconomic policies with the open market based approach.
SAP’s generally mandated:
-the removal of protections in the manufacturing sector;the elimination of government subsidies for food and some other items
-trade liberalization;reductions in barriers to trade, as well as foreign investment and ownership
-increased role of the private sector in industry, which were previously owned by the government
-reductions in government spending on health and education
Regrettably, the economic model promoted in Africa by the IMF and subsequent SAP’s were not beneficial for African......

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Title: Imf Structural Adjustment Programs In Africa
Approximate Word Count: 1006
Approximate Pages: 5 (250 words per double-spaced page)

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