A
structural adjustment program mentions
"[t]he list of budgetary and policy changes required by the IMF and World Bank in order for a developing country to qualify for a loan. This "conditionality" typically includes reducing barriers to trade and capital flows, tax increases, and cuts in government spending."
(Deardorff, A.,
Structural adjustment program,
Deardorff's Glossary of International Economics, visited 2010-05-28)
"These [structural adjustments] have typically involved cutbacks in government spending, wage reductions, privatization of State enterprises and reduced governmental regulation of the economy and business".
(Unterm,
Structural adjustment, visited 2010-03-16)
"A programme of policies designed to change the structure of an economy. Usually, the term refers to adjustment towards a market economy, under a programme approved by the IMF and/or WORLD BANK, which often supply
structural adjustment funds to ease the pain of transition."
(The Economist,
Structural adjustment, visited 2010-03-16)
