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Structural adjustment program - Definition and Overview |
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Structural adjustment is a term used by the International Monetary Fund for the changes it recommends for developing countries. This includes internal changes (notably privatization and deregulation) as well as external ones, especially the reduction of barriers to trade.
The term "structural adjustment" has been somewhat replaced since the late 1990s by an emphasis on "poverty reduction", with developing countries encouraged to draw up Poverty Reduction Strategy Papers (PRSPs); the content of these is often quite similar to Structural Adjustment Programs.
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