Structural Adjustment in Africa: How Can We Do it Better, How Can We Improve It?
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Economic Structural Adjustment Programmes (ESAPs) have generated hot debate since they commenced. In most cases they started in mid-1980s. There has been a tendency by some observers to associate ESAPs with the International Monetary Fund (IMF). Sometimes it is associated with both the IMF and the World Bank. This is because of the role which these two bodies play in the programme design. The IMF usually assists restructuring developing countries with macro-economic stabilisation policies package. The World Bank nom1ally assist in devising actual structural reform policy measures. The IMF has supported implementation of agreed policies with funds from Structural Adjustment Facility (SAF) and later from the Enhanced Structural Adjustment Facility (ESAF). The World Bank lend support with loans to enable implementation of structural policy measures. Yet there can be independently designed and implemented ESAPs/. Nigeria and Zambia did try their own ESAPs albeit for a very short period and without much success. Most ESAPs in Sub-Sahara Africa involve a partnership among the host government, the IMF, the World Bank and other cooperating partners.