Structural Adjustment

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Structural Adjustment

A government program in a developing country making changes to economic or monetary policies in order to better facilitate growth. For example, a structural adjustment loan may include a stipulation that the borrowing country relax any protectionist subsidies or impose higher taxes to balance the budget. Structural adjustments are necessary in some cases before the IMF or the World Bank will make loans to finance further development. See also: Structural Adjustment Facility.
References in periodicals archive ?
The authors provide statistical evidence that large outstanding loans slow economic growth, but they do not refute the possibility that any positive growth effects of the IMF's structural adjustment programs may be hidden by the negative growth effects of countries' debt crises.
While the structural adjustment program of 1986 further clarified economic liberalism as state policy, political liberalization proceeded much more fitfully.
While an IMF Structural Adjustment Program aims to do some good, "I must say that it's really worthless," asserted Archbishop Isidore de Souza of Cotonou, Benin.
Before looking at the contents of a structural adjustment program, let us look at how and why the need for structural adjustment arises.
Tansu Ciller, the Prime Minister of Turkey, to exchange views on Turkey's current economic situation and on the stabilization and structural adjustment program the Turkish authorities are putting into place.
The price of that seal of approval is adherence to a structural adjustment program.
When the situation temporarily improved, a medium-term structural adjustment program was put in place.
Structural adjustment program documents are not released by the World Bank or IMF until they are approved by the board of executive directors, making it extremely difficult for civil society groups to have input and affect the final outcome.
Compounding the problem, the price of receiving debt relief under the PRGF/HIPC program is implementing a carefully supervised structural adjustment program for three years (previously six years).
Benin has made substantial economic progress since the adoption of its structural adjustment program in 1989.
In December 1987, the MF expanded its existing structural adjustment program to create an "Enhanced Structural Adjustment Facility" (ESAF).
In The Market Tells Them So, John Mihevc dissects the structural adjustment program as applied to Africa, reviewing in detail the World Bank's changing rhetoric concerning structural adjustment, the Bank's response to criticism and the widespread misery inflicted on African people as a result of structural adjustment.

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