Economic Effects. Africa, The Implementation Of Structural Adjustment Programs

In recent decades, the global economy has had significant and rapid development, including Asia, South America, with scenes of prosperity in mainland. Only as the most economically backward continent in the world, Africa is not forgotten by the world, but it has been more and more marginalization. International organizations, major developed countries, as well as mainstream economists have been concerned about Africa's development and changes. In 80's of the 20th century, the World Bank and the International Monetary Fund, in Africa, implementation the Structural Adjustment Programs (SAPs), in reform of economy, politics, society and other aspects, to promote the economic development. However, is the reform successful? Where is the direction of Africa's economic development?Based on the analysis of scolars at home and abroad, the article comprehensively elaborates on the content and measures implemented by the International Monetary Fund and the World Bank in Sub-Saharan African countries to Structural Adjustment Programs: it has both reasonable and unreasonable side. According to the current economic situation in Africa, it is evaluated as the result: the plan, in fact, did not bring prosperity to Africa. Three negative effects of structural adjustment programs in Africa are to be: the plan exacerbates the external debt burden of African countries, increases its external dependency, and enlarges the gap between the rich and the poor. The author comes to the conclusion that as neo-liberalism in the expansion in Africa, Structural Adjustment Programs are not based on the reality of Africa so it is failed in Africa.For Africa's development and Structural Adjustment Programs of the current problem, this article, from both domestic policy and foreign policy aspects, recommends the training of the national industry advantage, and pays attention to the welfare of the Africa's people and take the road of sustainable development.