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Actually, SAP’s have impoverished people in Africa as will be seen using the examples of several African countries.
Zimbabwe
Zimbabwe implemented SAP’s in 1991 when it signed the agreement with the IMF in exchange for a $484 million loan.
The IMF’s SAP required: reducing trade tarrifs and import duties, removing protection for the manufacturing sector, deregulating the labour market, lowering the minimum wage, ending employment security, reducing the tax rate and deregulating the financial markets.
SAP’s stressed export-led growth in order to generate foreign currency to reduce debt...
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