Impact of Structural Adjustment Program on Sub-Saharan Africa

SAPs are processes of market-oriented reforms in policies and institutions, with the goals of restoring a sustainable balance of payments, reduction of inflation, and creating the conditions for sustainable growth in per capital income.The SAP was introduced in the 1980's and 1990's by the Bretton Woods institutions for developing countries as a mettlesome tool to foster economic growth and development. The main objectives of SAP were to upsurge productivity in national economies, rectify balance of payment deficits, reduce government expenditure and boost economic growth and viability.Irrespective of the luminous epistles of SAP believed to be the abracadabra to foster the abrupt sustainable fortunes of the African ambience, the supposed SAP as a talisman has rather created a volatile economic landscape which has further racked divergent opinions. It is therefore ironic that the literature is yet to reach a consensus about the effects of SAP on economic growth and development given the cornucopia of work already completed in the discourse of SAP.

Autorentext

Prof. Albert Mcbell Ninepence is Researcher and an Economist. He has published in various African and international journals. He has also hosted and spoken at events around the world. He holds BSc(Magna Cum Laude) in Business Administration from Ashesi University College.