“This paper contends that the vigour demonstrated by the World Bank and IMF to implement structural adjustment policies has allowed them significant involvement in the domestic and political affairs of these countries. Therefore an inquiry into the role that these policies may have played in the development of recent events in Zambia and Zimbabwe and the likely residual impact on regional security is warranted. Looking at a particular aspect or necessary condition for regional co-operation, namely regional security, this paper tries to point out how structural adjustment programmes may obstruct regional co-operation efforts.”