When not allocable by sector.
a process imposed on poor countries in which they must privatize services, export more, and reduce the government's role in the economy in order to access International Monetary Fund/World Bank loans. Structural adjustment programs have brought devastation to vulnerable citizens of poor countries as they lose more of their few protections and services.
The reallocation of resources (labor and capital) among sectors of the economy in response to changing economic circumstances, including trading conditions, or changes in policy.
Reform of the structure of a whole economy. Mostly used in the context of Structural Adjustment Programmes promoted by the International Monetary Fund (IMF) and the World Bank. Designed to bring about open markets, to liberalise trade, to cut deficits generally and so forth. In the case of the IMF, this usually means recipient nations have to agree on such plans, or at least on some broad outline, before funds become available.
a set of macro-economic measures coupled with structural changes within the domestic economy aimed to reduce deficit spending by governments, reduce inflation rates, increase the competitiveness (by currency devaluation) of domestic industries and others.
A change in a community in response to the impacts of either a clearly defined one-off event or ongoing social, economic or environmental change. Examples include adjustment to closure of a major regional employer, sustained drought or changes to government regulations that deliver broad community benefits but impact disproportionately on a small group.
Catch-all term for a series of impositions made by the International Monetary Fund on heavily-indebted poor countries, so they could restructure their foreign debts. These terms called for privatization of state-run firms, liberalization of trade, and steps to remove government corruption. In many cases they also entailed the devaluation of local currency, which led to widespread suffering and hardship.
Structural adjustment is a term used to describe the policy changes implemented by the International Monetary Fund (IMF) and the World Bank (the Bretton Woods Institutions) in developing countries. These policy changes are conditions (Conditionalities) for getting new loans from the IMF or World Bank, or for obtaining lower interest rates on existing loans. Conditionalities are implemented to ensure that the money lent will be spent in accordance with the overall goals of the loan.