Detrimental Impact of Saps of IMF on the Realization of the Rights Under ICESCR

The Structural Adjustment Programs of International Monetary Fund are a subject of
considerable public scrutiny in many post – colonial countries. It is argued that these
programs are extremely detrimental to the social and economic rights of the low –
income stratum of society. International Covenant of Economic, Social and Cultural
Rights outlines considerable rights which the States must abide to fully implement the
concept of ‘social justice’. However, the adoption of these Structural Adjustment
Programs results in further dependency of the post – colonial countries on the global
economic decisions in which they have no agency. As a result, the economic
vulnerability of the low – income people are increased due to these programs, and
they are exposed to the exploitation of the global market. Moreover, the capacity of
the States to implement the social reforms directly, indirectly, and incidentally is
constricted due to these programs which trap the States in such a way that they are
unable to fulfil their legal obligations under ICESCR despite subscribing to them in
principle.