Conditions
Some of the conditions for structural adjustment can include:
- Cutting expenditures, also known as austerity.
- Focusing economic output on direct export and resource extraction,
- Devaluation of currencies,
- Trade liberalization, or lifting import and export restrictions,
- Increasing the stability of investment (by supplementing foreign direct investment with the opening of domestic stock markets),
- Balancing budgets and not overspending,
- Removing price controls and state subsidies,
- Privatization, or divestiture of all or part of state-owned enterprises,
- Enhancing the rights of foreign investors vis-a-vis national laws,
- Improving governance and fighting corruption.
These conditions have also been sometimes labeled as the Washington Consensus.
Read more about this topic: Structural Adjustment
Famous quotes containing the word conditions:
“Brutus had rather be a villager
Than to repute himself a son of Rome
Under these hard conditions as this time
Is like to lay upon us.”
—William Shakespeare (1564–1616)
“Mankind always sets itself only such tasks as it can solve; since, looking at the matter more closely, we will always find that the task itself arises only when the material conditions necessary for its solution already exist or are at least in the process of formation.”
—Karl Marx (1818–1883)
“Armies, for the most part, are made up of men drawn from simple and peaceful lives. In time of war they suddenly find themselves living under conditions of violence, requiring new rules of conduct that are in direct contrast to the conditions they lived under as civilians. They learn to accept this to perform their duties as fighting men.”
—Gil Doud, U.S. screenwriter, and Jesse Hibbs. Walter Bedell Smith (Himself)