ABSTRACT
The initial hope that SAPs/PRSPs may be successful in delivering widespread prosperity through highly dubious mechanisms such as the ‘trickle-down’ effect and belief in the benefits of economic globalisation is confounded somewhat by the evidence. As Ayesha Imam states:
In most countries in Africa, SAPs have not led to increases in production or investment . . . In fact, according to the UN Economic Commission for Africa,
3 41 5 6 7 8 91 10 1 2 13111 4 5 6 7 8 9 20 1 2 3 4 5 6 7 8 9 30 1 2 3 4 51 6 7 8 9 40 1 2 3 4 5 6 7 8 9
A Increase earnings of foreign capital • Boost export production One implication of this is that the production of goods for
local and national needs is relegated in importance as a result of the drive for export production. Tourism is seen as an export product, attracting foreign currency into the country. Many Third World countries which used to be self-sufficient in foodstuffs now have to import basic grains and other foodstuffs. In 1996, for instance, Honduras began to import beans for the first time in its history.
