There are serious problems in many developing countries, such as unemployment and poverty. Many have huge debts which they cannot pay. Each country has a different fina

The purpose of the Structural Adjustment Programmes (SAP), as argued by Singer, is to stabilize the balance of payments and the service of foreign debts. The key role of SAP is to expand the role of the market and reduce the role of the government. This is based on the assumption that the market is right, and getting prices right, which is having prices close to those of a free market production to ensure growth. Many critics questioned SAP’s. First, international prices are not always the same as free market prices. Second, in developing and poor countries there is a lack of market information. Third, many don’t accept that government failures are more important than market failures. Finally, critics doubt the priority given to causes of underdevelopment (Singer, page 173). Countries under SAP are seen as successful and the World Bank continues to support them.

ncial problem which requires different solution. I feel that this debt crisis should be a concern to everyone. With the opportunities we have today, our education and our technologies people should not be suffering and countries should not be labeled ‘Third World’ countries. The whole nation should join as one and help build developing countries around the world as well as impose change in the future.

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