Structural adjustment loan (SAL) is a type of loan to developing countries. It is the mechanism by which international financial institutions, such as the World Bank and International Monetary Fund, impose structural adjustment. They carry (often controversial) policy conditions, which have included: (see Washington Consensus). 1. Fiscal policy di...
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A program loan, often by the World Bank ( q.v. ), to effect a structural adjustment program to liberalize an economy. Programs involve maintaining a flexible exchange rate, lowering tariffs, removing quantitative restrictions on international trade, and relaxing price and other market controls.
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