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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The World Bank and Structural Adjustment in Africa
Author:Cheru, Fantu
Periodical:Africa Insight
Geographic term:Africa
Subjects:World Bank
economic policy
international relations
Development and Technology
Economics and Trade
Politics and Government
Abstract:On 12 March 1994, the World Bank released its latest progress report on Africa. This report came at a time when the World Bank had come under increasing criticism from UN agencies and NGOs that its adjustment programmes had ravaged the productive capacity of African countries and increased income disparities. A typical structural adjustment programme (SAP) includes measures to maximize reliance on market forces and a reduction of the role of the State. A decade after the introduction of SAPs substantial economic turn-around has not occurred in any of the countries that submitted to them. In fact, closer scrutiny of the Bank's own data provides support for a contrary thesis - that implementation of the reform package has retarded economic growth. The debt-prone, export-led strategy advocated by the World Bank and the IMF under the banner of structural adjustment is a road which South Africa should avoid by any means. Ref.