Enhanced Structural Adjustment Facility

Enhanced Structural Adjustment Facility (ESAF) was a International Monetary Fund program of financial assistance for poor countries from December 1987 through 1999. It replaced the Structural Adjustment Facility (SAF) and was itself replaced by the Poverty Reduction and Growth Facility (PRGF). As a condition of financial assistance, countries were required to implement neoliberal structural adjustment programs.

By 1993, 29 countries had undergone several ESAF programs. The following nations had undergone more than one each:

Asia:
 * Bangladesh (3 ESAFs, plus 3 SAFs)

Latin America:
 * Bolivia (4 ESAFs, plus 1 SAF)
 * Guyana (3 ESAFs)

Africa:
 * Burundi (2 ESAFs, plus 3 SAFs)
 * The Gambia (3 ESAFs, plus 2 SAFs)
 * Ghana (3 ESAFs, plus 1 SAF)
 * Kenya (3 ESAFs, plus 1 SAF)
 * Lesotho (2 ESAFs, plus 3 SAFs)
 * Madagascar (2 ESAFs, plus 1 SAF)
 * Malawi (4 ESAFs)
 * Mauritania (1 ESAF [extended], plus 2 SAFs)
 * Mozambique (3 ESAFs, plus 3 SAFs)
 * Niger (2 ESAFs, plus 2 SAFs)
 * Senegal (3 ESAFs, plus 2 SAFs)
 * Sri Lanka (2 ESAFs, plus 3 SAFs)
 * Tanzania (2 ESAFs, plus 3 SAFs)
 * Togo (3 ESAFs, plus 1 SAF)
 * Uganda (4 ESAFs, plus 2 SAFs)

Related Sourcewatch articles

 * World Bank
 * International Monetary Fund
 * Washington Consensus
 * India's New Economic Policy of 1991
 * Structural Adjustment Loan
 * Poverty Reduction and Growth Facility (PRGF)

External Resources

 * ESAF, IMF Fact Sheet.
 * "ESAF: No Solution to Multilateral Debt," Halifax Project.

External Articles

 * "The IMF's Enhanced Structural Adjustment Facility (ESAF): Is It Working?," IMF, September 1999.
 * Michel Camdessus, "Stability and Structural Adjustment for Growth in a Globalized Environment," Roundtable of Heads of Agencies, Ninth United Nations Conference on Trade and Development Midrand, South Africa, April 27, 1996.