“Structural adjustment of the economies of tropical African countries was triggered by debt crisis in the early 1980s.Governments had borrowed heavily abroad, and had followed expansionary fiscal policies, on the strength of easy credit terms
and favourable trends in the external terms of trade. They were slow to react when the trends in relative prices were reversed and when commercial credit ceased to be cheap The object of structural adjustment was to recover growth in the African economies. This means to this end were the shifting of income and assets away from the more parasitic economic actors and towards the more productive.”
