'We think that it's unconscionable that after having to saddle the people of this country with over 30 new or increased taxes through this so call homegrown structural adjustment programme
, the government and the ruling should be covering up or engaging in defrauding of the taxpayers of this country,' he added.
He said Nigeria real problem started with the introduction of the Structural Adjustment Programme
by the regime of General Ibrahim Babangida in 1986 when public assets were sold to wealthy individuals who he said had no interest of the masses at hearts.
It was in 1988 that the first set of loan arrangements were agreed under the Structural Adjustment Programme
between the PPP government and the IMF.
It is the concerned IMF team's responsibility to strictly monitor a country's economy and not grant lenient waivers, and learning from past experience, the IMF is reportedly insisting on ground implementation of its harsh stipulations before agreeing to a new structural adjustment programme
. This worst-case scenario is what stares Pakistan in the face today.
Paper attempts to find out the social, political and economic impact of Structural Adjustment Programme
(SAP) joined by Pakistan from 1988 to 2002, with the hope that it would bring macroeconomic stability and democracy in the country, finally leading to economic development after the years of dismal economic performance under various regimes.
The government could not finance the project because, under the IMF structural adjustment programme
, it was committed not to take on any new public debt.
Since the start of the structural adjustment programme
in the 1980s, a growing debate has emerged as to the efficiency of these programmes to bring about sustainable economic growth, and as to their impact on poverty and basic needs fulfilment.
Malawi has been on an IMF structural adjustment programme
since 1993, and has suffered since then.
Nigeria's Structural Adjustment Programme
was introduced in 1986 with a principal aim of correcting this mounting bias against agriculture.
(68.) Abdoulaye Bathily, Senegal's structural adjustment programme
and its economic and social effects: The political economy of regression, in 2 The IMF, the World Bank and the African Debt 131 (Bade Onimode ed., 1987).
Its three-year structural adjustment programme
, which will end in June 1992, has been agreed with the World Bank/IMF which has approved a loan of $45 million.
ASUU president, for example, said Nigerians should reject totally the reintroduction of the Structural Adjustment Programme
and the International Monetary Fund loan by the Federal Government, saying accepting such would further impoverished majority of Nigerians.