Structural Adjustment of Wb and Imf in Sub-saharan Africa: Structural Adjustment Program of World Bank (Wb) and International Monetary (Imf) Fund in Sub-saharan Africa Does It Working?

Structural adjustment program is conditionality set by the World Bank and International Monetary Fund for developing countries as conditions to qualify for receipts of loans. In principle, the structures and policies of the WB and IMF are suppose to reflect the will of the membership, the realty however, is quite different with many of the changes mirroring the shiffitng periorities of USA foreign policy towards Africa. The 1980s and early 1990s were an exceptionally difficult period for lowincome developing countries, particularly in Africa. Many economies had been brought to the point of collapse by years of economic mismanagement and adverse external shocks, culminating in the debt crises of the 1980s. As governments began the essential task of restructuring and rebuilding their economies, per capita incomes stagnated or declined. SAP has been criticized on different areas where it was implemented due to its inappropriateness and praised on basis of its benefits to some ajusting countries.