Development
Structural Adjustment Program (SAP)
Definition
Economic reforms — typically including privatization, deregulation, trade liberalization, and fiscal austerity — required by the IMF or World Bank as conditions for lending.
Explanation
SAPs were widely imposed on developing countries in the 1980s-90s, particularly in Africa and Latin America. They remain highly controversial: proponents say they correct unsustainable policies; critics argue they impose pain on the poor and override national sovereignty. Modern IMF programs use less prescriptive language but similar conditionality.