What Is structural adjustment programme?

A Structural Adjustment Programme (SAP) is a set of economic policy reforms and measures implemented by countries, often in response to financial crises, typically under the guidance of international financial institutions like the International Monetary Fund (IMF) or the World Bank. These programs usually include austerity measures, deregulation, privatization of state-owned enterprises, and trade liberalization aimed at stabilizing the economy, promoting growth, and enhancing foreign investment. While proponents argue that SAPs can foster economic efficiency and growth, critics often highlight their social costs, including increased poverty and reduced public services.