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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Ghana: A Decade of IMF/World Bank's Policies of Adjustment (1985-1995)
Author:Panford, Kwamina
Periodical:Scandinavian Journal of Development Alternatives and Area Studies
Geographic term:Ghana
Subjects:World Bank
economic policy
international relations
Economics and Trade
Politics and Government
Development and Technology
Abstract:Ghana's Economic Recovery Programme (ERP), 1983-1985, followed by the Structural Adjustment Programme (SAP), initiated in 1986, were expected to improve living and working conditions in the country. This article assesses the extent to which ten years of adjustment have met expectations and concludes that the World Bank/IMF policy prescriptions have not ameliorated the economic and social burdens of the majority of Ghanaians. There has been a marked drop in employment. The Programme of Actions to Mitigate the Social Costs of Adjustment (Pamscad), launched in 1987, has failed to stem the negative consequences of adjustment. The country's industrial relations climate has become increasingly hostile. Social inequity has increased as the costs of basic social amenities, driven by the twin policies of cost recovery and revenue enhancement, have risen. Ghanaians articulated their widespread discontent and desperation in 1995 during the VAT demonstrations, voicing their preference for death to life under adjustment conditions. SAP has failed not only in Ghana, but also in other regions of the Third World. Bibliogr., notes, ref.