PRSP
Poverty Reduction Strategy
Papers (PRSPs) can be seen as the replacement for
Structural Adjustment Programmes (SAPs) (see GLOPP lesson
"Development Theories"). Negotiations on a poverty reduction and
growth facility will commence only after these have been agreed to Simon (2002). The IMF describes
PRSP as follows:
"Poverty Reduction Strategy Papers (PRSP)
are prepared by the member countries through a participatory
process involving domestic stakeholders as well as external
development partners, including the World Bank and International
Monetary Fund. Updated every three years with annual progress
reports, PRSPs describe the country's macroeconomic, structural
and social policies and programs over a three year or longer
horizon to promote broad-based growth and reduce poverty, as
well as associated external financing needs and major sources of
financing." (International Monetary Fund (IMF) 2008)