What is SAP?

(Structural Adjustment

Program)

Structural Adjustment Programmes (SAPs) are

economic policies for developing countries that have

been promoted by the World Bank and International

Monetary Fund (IMF) since the early 1980s by the

provision of loans conditional on the adoption of such

policies.

Source

(http://www.who.int/trade/glossary/story084/en/)

Why IMF established?

The International Monetary Fund (IMF) is aninternational organization headquartered inWashington, D.C., in the United States "of 188 countries, working to foster global monetary cooperation,

secure financial stability,

facilitate international trade,

promote high employment and

sustainable economic growth, and reduce poverty

Source

(http://en.wikipedia.org/wiki/International_Monetary_Fund)

When IMF established?

Formed in 1944 at the Bretton Woods

Conference, it came into formal

existence in 1945 with 29 member

countries and the goal of

reconstructing the international

payment system.

Type of financial facilities offered

by IMF BSFF Buffer Stock Financing Facility (1969–2000)

CCFF Compensatory and Contingency Financing Facility

(1988–2000)

CCL Contingent Credit Line (1999 –2003)

CFF Compensatory Financing Facility (1963–88, 2000–09)

CSF Currency Stabilization Fund (1995–2000)

EAR Enlarged Access to the Fund’s Resources (1981–92)

ECM External Contingency Mechanism (of the CCFF)

(1988–2000)

EFF Extended Fund Facility (1974–)

EFM Emergency Financing Mechanism (1995–)

EPCA Emergency Post-Conflict Assistance (1995–2000)

ESAF Enhanced Structural Adjustment Facility (1987–99)

FSAP Financial Sector Assessment Program (1999–)

GRA General Resources Account

PRGF Poverty Reduction and Growth Facility (1999–)

RAP Rights Accumulation Program (1990–)

ROSC Report on Observance of Standards and Codes (1999–)

SAF Structural Adjustment Facility (1985–95)

SBA stand-by arrangement

SCA Special Contingent Account

SDA Special Disbursement Account

SRF Supplemental Reserve Facility (1997–2009)

STF Systemic Transformation Facility (1993–95)

To be continued….