Structural Adjustment Programs (SAPs)

Structural Adjustment Programs (SAPs) are economic policy reforms implemented by countries, often with the guidance of the International Monetary Fund (IMF) or World Bank, to stabilize and restructure their economies. Typically adopted in response to financial crises, SAPs may include measures such as reducing government spending, privatizing state-owned enterprises, and liberalizing trade. The goal is to make the economy more efficient and attractive to foreign investment, but these programs can also lead to social challenges, including increased poverty and reduced access to public services, if not managed with care.