a term for the loans provided by the IMF and the World Bank to countries that experienced economic crises, which come with strings attached: privatisation and deregulation, mainly (the conditions are also known as the Washington Consensus)
The result of such 'structural adjustments' was the integration of local agriculture into the global economy: while crops were exported, farmers thrown off their land were pushed into slums, available as a workforce for outsourced sweatshops.
notable
7 years, 2 months ago