IMF and the World Bank

Somalia had an economy based on trade between small breeders and small agriculture. Despite drought, the country remained self-sufficient on alimentary product during the 60's and 70's. During the 1970's decade population transfer programs permited the development of an important commercial sector: Breeding. until 1983, breeding represented 80% of Somalia importation takings. At the beginning of the 80's the IMF and the World Bank imposed a program of reforms. This program led to the colapse of the …

…World Bank directors have the legal immunity. A solution is proposed by the Jubille2000 project. Jubille calls for cancellation of the debts of the poorest countries. Mozambique has to pay 33% of its GDP for the repayment of its debts. This money could be used to improve the healthcare, the education and unemployment. Conclusion SAPs have slowed and decrease the overall development of Sub-Saharan Africa and other countries. The SAPs's measures have worsened the economic condition.