Structural Adjustment Programmes (SAP'S) or Economic Recovery Programmes (ERP's)
Structural Adjustment Programmes (SAP'S) or Economic Recovery Programmes (ERP's) : Economic policies recommended by institutions like the World Bank and the IMF to assist countries in overcoming balance of payments problems, meeting debt obligations and developing a foundation for sustainable economic growth. The programme is embodied in the "Letter of Intent", which refers to measures aimed at reducing public expenditure, the promotion of domestic spending, export promotion, promotion of private foreign investments, a reduction in the state's economic role, and the liberation of the economy through such measures as devaluation, abolition of exchange controls, removal of controls on imports, prices and distribution
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