Privatization 4
Privatization 4 : The relinquishing of state ownership and control of economic activity to the private sector. This takes the form of selling off nationalized industries and state corporations, and departments of government which have the potential to earn income. Privatization is prescribed by the IMF and the World Bank as a means for cash strapped developing countries to obtain cash and foreign exchange. Like downsizing, it can impact negatively on public sector employment, and social and welfare services
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